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New condo regulations pondered

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The province plans to draft new laws to regulate condominiums, and it is asking the public for input.

In a news release today, the government says it is looking at extending a purchaser's "cooling-off time" to seven days from the current 48 hours so buyers have more time to read information that sellers are required to provide.

It is also considering the requirement that condominium reserve funds be adequate to cover the cost of major repairs as they arise.

Doug Forbes, president of the Manitoba chapter of the Canadian Condominium Institute, said he's encouraged that the government is making an effort to modernize the legislation.

The province has released a discussion paper on condominium issues and proposed changes. It's available at www.manitoba.ca/fs/condo-act or by phoning 945-8224. The document shows how the public can provide feedback on the proposed new legislation. The province wants to hear from people by Oct. 22.

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