Which term describes the phase where completion of construction is confirmed and buyers are notified?

Prepare for the Ontario Condominium Management License Test with flashcards and multiple choice questions, each equipped with hints and explanations. Get ready for success!

The term "Occupancy Period" accurately describes the phase where the completion of construction is confirmed and buyers are notified that they are allowed to take possession of their units. During this phase, essential inspections and approvals must be completed, allowing buyers to move in, even if the entire building might not be fully completed. This period signifies the transition from construction to the homeowners taking active residence in their new property, enabling them to get settled while any remaining minor construction tasks are finalized.

The other terms listed do not specifically refer to this critical stage in condominium ownership. The various stages of construction might refer to preliminary steps or milestones in the building process, but none capture the essence of officially notifying buyers of their ability to occupy the property like the "Occupancy Period" does.

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