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Bill 40 lowers the required threshold to 80% from 100% for strata corporation members to vote to dissolve their entity and sell their buildings.
As of July 2016, unanimous owner agreement is no longer required to wind-up a strata corporation in BC. Owners of a Vancouver condo became the first in BC to dissolve their strata corporation without 100% owner support. It is estimated that many strata corporations across Metro Vancouver will follow suit and are investigating selling their complexes to developers.