OREA Commercial Condo Resale (Form 501): Guidance and Practice Tips

Summary

This practice note reviews the various sections and provisions of the Ontario Real Estate Association ("OREA") Form 501 for a Commercial Condominium Resale (hereafter, the "Condo") transaction to provide a description of the purpose of each section and the meaning of the terms. The practice note assumes that you are already working with, or have access to, the appropriate OREA form (2021).