Any co-owner may have the relative value of their fraction, as well as the allocation of common expenses, revised according to certain conditions and formalities. To do so, it is necessary to proceed with an appeal to revise the relative value of the fractions. Furthermore, a co-owner may wish to modify the relative value of their fraction. Therefore, they will have to request the prior consent of the Board of directors or the general meeting of co-owners, depending on what is required.
This revision or modification of the relative value has an impact on the proportionate share of the right of ownership (which the co-owners hold in the common portions), the number of votes they can cast at the meeting of co-owners and the allocation of common expenses. On this question, Article 1064 of the Civil Code of Québec stipulates that: “Each co-owner contributes to the common expenses in proportion to the relative value of his fraction.”
There is an administrative component in co-ownership Management that should not be neglected; its proper implementation will ensure the smooth operation of the syndicate of co-owners. The contractual agreement between the latter and the manager, may stipulate that various assignments – all equally important - allocated to the manager. If many cases, his duties will be numerous and will require not only thorough knowledge of the declaration of co-ownership, but also reasonable knowledge of the legislative framework governing this collective housing mode. A review of the range of duties that can be entrusted to co-ownership managers.