When you purchase an apartment in a recently built co-ownership, a portion, if not all the private portions of the immovable, can be encumbered by a prior notice of a legal hypothec in favor of persons having taken part in the construction.
As a purchaser, you will be compelled to pay the debts of the developer, if he is in default of paying its construction creditors? If so, how will the amounts claimed be allocated between the co-owners? And what happens if they refuse to pay?
There are two different types of guarantee plans: a compulsory guarantee plan for new residential buildings, governed by the Regulation respecting the guarantee plan for new residential buildings, and optional guarantee plans which cover, in certain cases, specific types of buildings.