Definition : Common expenses (condo fees) - Developer’s contribution

The financial contribution assumed by the real-estate developer, in his capacity of co-owner, in relation with the expenses arising from the co-ownership and the operation of the immovable, as well as the amounts to be paid into the contingency fund and the self-insurance fund. This obligation to pay his share of the common expenses exists, from the publication of the declaration of co-ownership, for every unsold private portions he owns.

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Expenses related to the maintenance and administration of the common portions of a co-ownerships start from its constitution as a legal person. It is therefore necessary that each co-ownership sets up, upon publication of the declaration of co-ownership, a Board of Directors to administer it. To ensure the star up of the syndicate, the developer usually designates in the declaration of co-ownership (by-laws of the immovable), one of its representatives to act as the provisional administrator of the syndicate.
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