Updated: Feb 16, 2020
Effective January 1, 2020, significant changes have been implemented with heavy consequences if condo owners are not prepared. No-fault deductible charge-backs to individual units are now standard, with a maximum of up to $50,000. YOU could be responsible for up to $50,000 to cover the corporation's insurance deductible, whether or not you have proper coverage, as long as the damage originated from your unit. No negligence required.
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