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.

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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
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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.
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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:
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The developer needs to make a large investment to build an immovable in co-ownership. Therefore, he will require a deposit at the signing of the preliminary contract. The deposit is your first payment to the vendor. The amount should be proportional to the purchase price of the apartment.
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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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