- Guarantee plan for new residential buildings : Compulsory Guarantee plan
Definition : Guarantee plan for new residential buildings - Compulsory Guarantee plan
A guarantee plan offering a guarantee on brand new buildings which are constituted of single family homes (single, semi-detached or townhouses) and of residential towers comprising, at the most, four superimposed private portions, without taking into account (in the computation of these four portions) the private portions for parking and storage.
Face au refus d'un promoteur ou d'un constructeur de terminer les travaux de construction de l'immeuble, le syndicat de copropriété ou tout copropriétaire peut-il agir d'une quelconque façon afin, soit de contraindre le constructeur à l'achèvement des travaux, soit d'obtenir un dédommagement?
Parking spaces qualified as private portions are commonplace in divided co-ownership. This special legal status is attributed to them by the declaration of co-ownership, which designates them as fractions in the section devoted to the description of the fractions. Like an apartment held in co-ownership, all these spaces have a unique lot number, along with a relative value, and a share. Their owners may, at a general meeting of co-owners, prevail themselves of the votes attached thereto. These votes are added, as the case may be, to those they have for their apartment
February 16, 2017- It is sometimes difficult for co-owners to figure out, at the organizational stage of their syndicate, their rights and obligations .The function of director is often complex, but it is even more so when the first directors replace the provisional director of the syndicate, in essence the representative of the developer.
October, 8, 2016 - Article 1039 of the Civil Code of Québec stipulates that the syndicate of coowners is responsible for the preservation of the immovable, its maintenance and the administration of the common portions. As a result, the initiative to undertake work in common portions comes from the syndicate, acting through its Board of Directors. This applies both to work intended to correct construction defects and work for the rehabilitation of the immovable, following a loss caused by a co-owner.
The scope of the compulsory guarantee plan
The Regulation respecting the guarantee plan for new residential buildings came into force in 1999. It is administered by the “Régie du Bâtiment du Québec” (Quebec Construction Board) (QCB). Its compulsory nature distinguishes it from the optional guarantee plans offered in the market. It applies to buildings that are entirely new, such as:
Building a condominium requires major investments on the part of a developer. This is the reason why a down payment will be required upon signing the preliminary contract for the desired condo unit. This down payment, which represents the first installment to the seller, varies according to the unit’s total price.
When the time comes to sign an offer to purchase, the vendor will often ask for a deposit, known familiarly as a « down-payment», to be deducted from the sale’s price. Even though there is no legal obligation to give a deposit, this practice offers to the vendor assurances of your intention to purchase and of your apparent solvency.
I am the co-owner of a new condo. Other owners and I have recently discovered cracks in the foundation of the building, as well as water infiltration in the garage. The promoter is mute, and we have not yet transferred the administration.
Question: Should we refuse to elect our first Board of Directors, until the issues identified have been corrected? And should I sell immediately before other major problems arise?
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