Loss where the cost of the necessary work to bring the immovable back to standards means, theoretically, a cost in excess of the rebuilding value. The Court of Appeal, in a decision rendered in 2009, has limited this statement of principle and has suggested criteria to establish what constitutes a total loss. As it is, one of the mentioned criteria is not take into account, in the rebuilding cost, of components who are not damaged or unlikely to be damaged as a result of a loss.
After being victims of a loss, the members of the board of directors and the affected co-owners are often caught off guard. How will things unfold? There is no need to worry or panic, because in principle, once the notice of loss completed, various stakeholders get involved: the insurer of the syndicate, but also that of co-owners and lessees, who will respectively designate their own claim adjuster. Generally the co-owners affected by a loss, as well as the syndicate, believe that making a claim is always the right thing to do. This is true in many cases, but sometimes the syndicate might want to refrain from doing so.