Real Estate Council of Alberta Fundamentals Practice Exam

What must be included in the legal description of a condominium plan?

1. Owner's personal details

2. Number of units

3. Market value of units

4. Insurance details

The correct answer is: Number of units

In a legal description of a condominium plan, the number of units is a crucial detail. This information is essential for defining the scope of the condominium's structure and for the individual ownership interests. Each unit within the condominium is identified, and the total number of units helps establish boundaries for ownership, governance, and maintenance responsibilities associated with the condominium community. The legal description is a formal and precise way to delineate the property and reference how many distinct units exist within the development. It serves not only for legal documentation but also for any transactions, financing, or management matters related to the property. Including this detail ensures that all stakeholders, including owners, prospective buyers, and lenders, have a clear understanding of the condominium's layout and unit ownership. Other elements, such as owner's personal details, market value of units, or insurance details, are not typically included in the legal description itself. These aspects might be important in other documents or for separate legal or financial considerations, but the legal description's primary focus is on the physical structure and the property’s legal boundaries, with the number of units being a fundamental part of that delineation.