By Veronica Franco
When dealing with most legal issues in strata corporations, the first place to look for guidance is the Strata Property Act. However, other legislation can have a significant impact on the business of strata corporations. The Limitation Act, R.S.B.C. 1996, c. 266 (the “Current LA”) sets out the limitation period, which is the time period that an individual, including a strata corporation, has to file a civil claim. Under the Current LA, different causes of action or types of lawsuits have different limitation periods, which are generally two, six or ten years. The limitation period begins to run on the date on which the person has the right to bring an action. In certain circumstances, the start of the limitation period can be postponed.
In an effort to “standardize” limitation periods across Canada, the Current LA is being replaced with the Limitation Act, S.B.C. 2012, c. 13 (the “New LA”) effective June 1, 2013.