Definition : Immovable hypothec (conventional) - Hypothecary Reassignment

Notarial act en minute which results in the transfer of the hypothec affecting the undivided share of a co-owner (in an undivided co-ownership) to the apartment (private portion) and the rights in the common portions allocated to him following the partition of the immovable carried out at the occasion of the conversion into divided co-ownership.

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When it comes time to acquire a home, many buyers turn to the acquisition of a multi-unit building (such as a duplex, triplex, quadruplex, etc.). The direct conversion of rental units to divided co-ownership is prohibited in some cities, with a few exceptions, which is why owners first turn them into undivided co-ownership. It should be noted that a building, whose dwellings are all occupied by undivided owners,can be converted into divided co-ownership, subject to certain conditions. But carrying out this conversion requires to overcome several steps involving all owners concerned.
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