Definition : Purchase

A transaction by which a natural person or a legal person (the buyer) acquires from another natural or legal person (the seller) ownership of property or a right, in exchange for a sum of money (or other consideration).

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6 novembre 2019 - Cette conférence est offerte par le RGCQ sous forme de Webinaire. Connectez-vous à distance et écoutez les experts dans le confort de votre salon!
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Question : Lors de l’achat de mon condo, suis-je en droit d’exiger de mon vendeur une copie certifiée conforme (copie authentique) de la déclaration de copropriété?
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The purchase of a condo gives you easier access to property, on account of lower costs compared to a single family home. Young couples and tenants take advantage of this formula. An increasing number of them opt for condo life, which allows them at last to become owners.
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The declaration of co-ownership is intertwined with the purchase of an apartment held in divided co-ownership. A genuine "user's guide", this document defines the rules to be observed in the immovable, as well as its administrative and management guidelines. Before acquiring a condo, any careful buyer should, imperatively, read the declaration of co-ownership. He will thus be able to verify the extent of his obligations and duties and the limits to his ownership rights. He will be able to evaluate its terms and conditions and make a decision on buying or not.
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An apartment held in divided co-ownership caught your attention. You seriously consider buying it, but before making a commitment, you would like more information about the neighborhood. To obtain additional information to that supplied by the co-owner seller, it will often be necessary to conduct your own survey. This is important on account of the possibility of abnormal neighborhood annoyances caused by noise, odors and smoke, the main cause of co-owners’ conflicts.
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Buying a condo isn’t only a matter of the inspection of the targeted immovable property. The atmosphere of the neighborhood is equally important because it can vary from place to place. Beyond the rules of conduct in force in the coveted co-ownership, knowing the dynamics of the neighborhood should always be a priority. The purchase of a condo is a long-time commitment for many purchasers. In fact, he will have to live in it at least a few years so that his investment is profitable. It is therefore in his best interest to choose a location that will meet his expectations to avoid a premature move. If in doubt, renting a similar apartment in the vicinity for at least a year can be a wise move, allowing sufficient time to evaluate the prevailing atmosphere.
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