Definition : Purchase - Allocation (Adjusments)

Exercise which aims at distributing, after calculation between the seller and the buyer, the sums due by one or the other at a given date, generally that of the signature of the deed of sale. This allocation must take into account amounts paid in advance by the vendor, for example municipal and school taxes, as well as common expenses (condo fees). 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.

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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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