A syndicate of co-owners has the obligation to account for its operations by funds. The Civil Code of Québec requires the creation of a general fund, a contingency fund and in April 2022, the creation of the self-insurance fund. The creation of the early self-insurance fund is recommended. The general fund for current operations is also sometimes referred to as an administration fund or an administration fund.
July 27th 2021 - Divided co‑ownership is a housing type that has become popular in Quebec in recent years. If you’re thinking about buying a new condo—undoubtedly a significant milestone in your life—you’ll find helpful tips in this article on choosing the right contractor.
July 13th 2021 - As of January 1, 2015, Garantie de construction résidentielle (GCR) is the only organization authorized by the Quebec government to administer the mandatory guarantee plan for new dwellings. Our mission is to protect buyers and improve the quality of residential construction. In this article, we will tell you everything you need to know about the mandatory guarantee plan when it comes to divided co-ownership.
Your co-ownership is exposed to various risks, as an example, fires, water damages, theft and acts of vandalism, which are required to be insured against. When a loss occurs, the insurance of a co-ownership covers the building as well as the general liability of the syndicate of co-owners.
For the syndicate, subscribing to this type of insurance is mandatory. The law and most Acts of co‑ownership require it. The insurance contract specifies the coverages offered, as well coverage limits and exclusions, in addition to the deductible amounts.
April 17, 2021 Any co-owner may delegate his right to vote to an mandatary. Thus, with the notice calling the meeting containing agenda, financial statements and budget, there is usually a blank proxy form. However, since there is no requirement for the board to include one, it may be necessary for a co-owner to prepare one himself.
A formidable tool at assemblies and an object of covetousness for many when a decisive vote is planned in the co-ownership. However, proxies and their validity are often the subject of unfortunate questions and attempts to counter them. What about it?
Each syndicate of co-owners has a declaration of co-ownership, which, in principle, should be a veritable bedside book for both the co-owners and the members of the board of directors. However, the declaration of co-ownership is a document that may seem inaccessible at first glance for the latter. This problem can sometimes be increased, when it was more or less well written, more or less long ago. This is not to mention the confusing clauses, which create difficulties of interpretation and even clauses contrary to the legislation that evolved after its publication.
In compliance with its legal obligations to preserve the building, a syndicate of co-owners is frequently called upon to retain the services of contractors over the years to carry out, among other things, conversion work in the common portions. In this regard, the directors forming the board of directors of the syndicate have the obligation to act with prudence, honesty and loyalty and in the interest of the community of co-owners, in accordance with Article 322 of the Civil Code of Québec, when awarding a construction contract to one or more contractors.
With this in mind, can directors contract with a contractor who offers the syndicate a competitive price in return for a cash payment "under the table", i.e., without paying or remitting the taxes usually payable?
Afflicted with a health issue, you want to move to an apartment closer to your daughter, which is fitting, given that a unit in her condo building is for sale. However, this unit is rented. During a visit to the premises, the tenant informs you that he has no intention of leaving, claiming a right to stay there for life. At least, for as long as he wants to.
On the other hand, the seller tells you that the tenant will have to leave the unit upon receiving a notice of repossession. Intrigued by the tenant's statement, you take time to interview several people to verify this "lease for a lifetime" matter. The answers provided reassure you: if it is sent six months before the planned repossession date, the notice of repossession should allow you to take back the apartment.
March 17, 2020 — Several syndicates of co-owners are wondering how to react to the coronavirus so that their day-to-day business could continue. Even if the contagion risks impose temporary isolation measures on Quebecers, co-owners should not imagine that time has stood still.
Condominiums must continue to function as adequately as possible, especially financially, in order to ensure their longevity. In this newsletter, Condolegal.com suggests some legal opinions formulated by Michel Paradis, Partner at Therrien Couture Joli-Coeur and me. This will allow you, in this time of crisis, to better understand how the day-to-day affairs of a co-ownership work.
September 3, 2019 - Many syndicates believe entrusting the management of a co-ownership to a volunteer co-owner is the ideal scenario. He is unpaid and lives in the building, which will make it easier for him to solve problems. But in reality, those who take the time to evaluate the pros and cons of the services of a condo manager often discover that his presence could allow a competent administration and generate savings.