In co-ownership, the rights of withdrawal and of preemption may disrupt the course of a real estate transaction. In my practice, I had to intervene a number of times before proceeding with a sale, often to the astonishment (and sometimes displeasure!) of the parties, to safeguard their rights.
In my practice, many clients consult me to convert an immovable comprising several apartments into divided co-ownership. Unfortunately this does not always prove possible, more particularly because of the very high costs such a process implies (such as subdivision taxes known «Parkland taxes» applicable in certain boroughs of Montreal or other municipalities) and vested rights in favor of tenants.
November 11th, 2010 – Obtaining a certificate of location is essential in a real-estate transaction. It contains a plan showing the location of the building on the lot and a report certifying, amongst other matters, the conformity of the immovable to the laws and applicable regulations.