The Declaration is the document filed in the Land Titles Office, and contains very fundamental information about the Condominium Corporation, including the percentages allocated to the units for a share in the Common Elements, contribution to the common expenses and for voting. The declaration might also set out a specification of the common expenses, any parts of the common elements that are not to be used by all of the owners, any restrictions relating the occupation and use of the units, provisions relating to the collection of contributions toward the common expenses and many other matters.
The By-laws will detail the policies and procedures by which the Corporation will be run such as:
- how meetings of the unit owners are to be called and conducted
- how the Board of Directors is to be elected and how it is to run its affairs
- how the Corporation’s records are to be maintained
- how additional rules and regulations are to be passed
