- Certificate of the state of the immovable : Certificate of the state of the immovable
Definition : Certificate of the state of the immovable
Certificate, prepared by a building professional, establishing, at a given time, the state of conformity of the immovable to construction’s standards and, as the case may be, its deficiencies. It also includes the inventory of the components of the immovable (outside areas, buildings, dwellings, equipment, etc.) which will be the object of an evaluation for the purpose of the contingency fund. This document is an integral part of the register of co-ownership, as a "document relating to the immovable and the syndicate". It shall be made available to any co-owner upon request.
Any syndicate of co-owners has obligations to assume in terms of the maintenance of the common portions. The certificate of the state of the immovable is an essential step to ensure the preservation of the immovable. It is a preliminary step before requesting the services of a professional to establish a contingency fund study. The certificate of the state of the immovable corresponds to a "balance sheet" of the building: it notes the quality of the building, at a specific time. It includes an inventory of the building's components (outdoor spaces, buildings, dwellings, equipment, etc.) that will be evaluated to establish the amounts to be paid into the contingency fund. Although there is no legal obligation to this effect, this document should be prepared by a professional technologist, engineer, architect.
The law provides that the syndicate must keep a register available to the co-owners. Article 342 of the Civil Code of Quebec specifies that the board of directors shall keep the list of members, as well as the books and registers necessary for the proper functioning of the legal person. This register represents the memory of the building for those who administer it. It constitutes the history of the experience of the condominium from its conception, and this by specifying its maintenance and the work undertaken, while listing the contractors and suppliers who intervened. In this sense, it is invaluable. The syndicate must preserve for organizational and management purposes, or for legal protection and evidence purposes, all documents and information relating to the operation of the co-ownership. That is why "preservation", "access" and "archives" are the hallmarks of this register.
By buying an apartment in a co-ownership, you will most likely invest the largest amount of money of your life. In order to avoid being caught off guard during the steps prior to this acquisition, you will need to be well accompanied. After finding the condo that suits you, the first thing to do is to appreciate the condition, as well as that of the building that houses it. Remember that the acquisition of an apartment is not limited to the purchase of its walls. You become an undivided co-owner of the common portions, for example the entrance hall, the roof, the interior garage, the elevator or the windows of the building. To do things right, you need to seek the services of a building inspector. The latter will examine the unit and building that are of interest to you.
WHAT YOU SHOULD KNOW ! The Asset Management Plan (AMP) is a comprehensive process to ensure the conservation and maintenance of real estate assets. This plan details the information regarding the common elements and the measures required to provide an agreed level of service in the most cost-effective manner, while describing the associated risks. In particular, the AMP defines the intervention scenario to maintain the asset, quantifies the cost of its implementation and establishes the financing strategy, generally over a 10-year planning period. It will be linked to a long-term financial plan that also spans a 10-year period.