The government says the new law would give clear notice of occupancy dates and any changes to a purchase agreement.
The proposal also calls for a tribunal that would resolve disputes instead of going to the courts.
New qualifications and standards for condo managers are also included in 50 proposed amendments to current legislation.
Alberta's condo act was last updated more than a decade ago.
More than 88,000 new units have been built in the last 10 years — in part because of the province's strong economy and also because more people are wanting to live in condos.
“What we are trying to do is reinforce some consistency, reinforce some points and strengths for our consumers, and put a level playing field out there for the developers,” Service Alberta Minister Stephen Khan said Tuesday.