Action of distributing between the buyer and the seller the sums that the seller paid before the sale transaction, in relation to municipal and school taxes, common expenses (condo fees), etc., and whose payment benefits the buyer according to the date agreed between the parties for the transfer of the fraction. The same shall apply to sums which have not yet been invoiced to the vendor but for which he is responsible for payment. For example, if the sale of the apartment was concluded during the year, but the municipal taxes have not been paid, the vendor must remit to the purchaser the portion corresponding to the period of the year during which he owned the apartment.
Question: We have accumulated significant sums for the repair of the roof, which is to take place in ten years. As part of the sale of my apartment, can I ask the buyer or the syndicate for a refund of the contributions I have paid to the contingency fund?
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The final step in the purchase of your apartment is the signing of the deed of sale. As soon as all the prior conditions of the sale are satisfied, the vendor must transfer the property upon the payment of the price.
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In divided co-ownership, the law is very clear. Current common expenses must be paid by the co-owner in place at the time of receipt of the notice of assessment. Recall that the common expenses correspond to the sums of money that the syndicate of co-owners collects from the co-owners to meet the expenses resulting from the co-ownership and the operation of the building, as well as to allow the constitution of savings, in order to dispose of the sums required for the contingency fund and the self-insurance fund. That's why, before buying the apartment of your dreams, find out about the state of charges (condo fees) related to it, both those that may have remained unpaid by the seller and those in the making. If you do not do this check, you will be required to pay them once you become the owner of the apartment.
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The notary is a jurist with the task of public officer, who ascertains the free and informed consent of the parties. The notary also has the role of legal adviser. It therefore protects consent. The intervention of the notary is very important when purchasing an apartment in a divided co-ownership. A professional, he is a member of the “Chambre des notaires du Québec” (Québec Chamber of Notaries). In this capacity, the notary's mission is to receive, on behalf of his clients, the acts to which the parties must or want to have given the character of authenticity (such as a declaration of co-ownership). Even though it is preferable that he should get involved at the outset of a transaction, this legal adviser usually gets involved after the signing of the offer to purchase or of the preliminary contract.
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When it comes to major repairs or the replacement of common portions, account is taken of the obligation imposed on the syndicate to conserve the building and its corollary: the constitution of a contingency fund. The contribution required from co-owners to the contingency fund will vary according to the calculation method chosen by the professional selected by the members of the board of directors. As for its distribution among the co-owners, it is generally established according to the relative value of their fraction. However, article 1064 of the Civil Code of Quebec balances this rule. It specifies that the declaration of co-ownership may provide for a different distribution of the co-owners' contribution to the expenses relating to major repairs to the common portions for restricted use and the replacement of these parts.
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