Real Estate Agent, Active Director of a Company, Personally Liable for Breach of Statutory Trust by the Company #309
By Gerry NeelyB.A., LL.B. The Alberta Condominium Property Act requires that, upon the sale of residential units, substantial holdbacks from the sale proceeds to be paid to the developer, are to be retained to cover not only the cost of completion of the strata lot, but of the common property. The holdbacks are deemed to be trust …