Definition : Insurance - Depreciation

Decrease in the value of a property over time due to its age, wear, obsolescence or following a loss.

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Un copropriétaire a accidentellement défoncé avec son véhicule la porte de garage. Celle-ci doit être changée complètement. Son assureur nous propose de nous indemniser que partiellement. Celui-ci nous offre de payer 90% de la facture à cause de la dépréciation. Question : Sommes-nous tenus d’accepter cette proposition?
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After a water damage, the ultimate goal of the syndicate and its co-owners: to find themselves in the same situation as they were in before the disaster took place. Due to its legal structure, the rehabilitation of common and private portions can be particularly complex in a divided co-ownership. Therefore, it should be taken care of by a qualified entrepreneur in the field. Situations vary from claim to claim, depending on the parts of the building affected, the extent of the damage and the source of the water, which may be clean or contaminated. This stage usually consists of four phases: 1) Emergency work, 2) Damage assessment 3) Compensation 4) Rehabilitation work.
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A co-owner may be liable to the syndicate, the other co-owners and the occupants of the immovable. As stated in Article 1457 of the Civil Code of Québec, every person has a duty not to harm others. As a co-owner, you must be careful and abide to the appropriate rules of conduct in accordance with the context and circumstances. Otherwise, you engage your civil liability and are required to remedy (financially third parties for moral or property damage and  personal injury.    
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