- Legal hypothec : Legal hypothec
Definition : Legal hypothec
Security given by operation of law. There are 4 different types of legal hypothecs:
1. Legal hypothec of the state: For claims of the State for sums due under fiscal laws, as well as certain other claims of the State or of legal persons established in the public interest , specially provided for in specifics acts ;
2. Legal Hypothec of construction: For sums due to persons (architect, engineer, and supplier of material, worker, contractor or subcontractor) having taken part in the construction of a building or the renovation of an immovable;
3. Legal hypothec of the syndicate of co-owners: For the sums due by a co-owner in default of paying to the syndicate of co-owners his share of the common expenses or his contributions to the contingency fund for more than 30 days.
4. Legal hypothec resulting from a judgment: For sums due under a judgment .
The failure to pay general or special common expenses (condo fees), as well as those relating to the contingency fund, is one of the most contentious co-ownership’s issues. It is the duty of the board of directors of the syndicate of co-owners to collect them, unless this task has been delegated to the condo manager.
When a co-owner's contributions have been in arrears for more than three months, the law provides, ex officio, that he automatically loses his right to vote at the general meetings of the co-owners. He is also exposed to legal recourses, so that the syndicate can recover the amounts owing. A review of the options in such cases.
The additional premium is a premium that is added to the existing premium. It results from a worsening of the risk or from the assumption of a new risk. This additional premium may be imposed during the course of a contract or upon its renewal. Risks are analyzed according to scales that are specific to each insurer. Ultimately, the syndicate will pay this additional premium, which will be charged to all of the co-owners through the common expenses (condo fees) or, at times, some of them.
9 avril 2019 — Les frais de condo en souffrance peuvent entraîner un imbroglio juridique duquel personne ne ressort gagnant. C’est ce qui est arrivé à un couple de copropriétaires qui, après avoir fait défaut de payer ses frais de condo, a dû faire face à la publication, par son syndicat de copropriétaires, d’une hypothèque légale contre l’unité qu’il a achetée en 2013. Il en a résulté un procès opposant les deux parties.
The intervention of the notary is very important when purchasing an apartment in a divided co-ownership. A professional, member of the “Chambre des notaires du Québec” (Québec Chamber of Notaries), he is also a public officer. As such, the notary has without limitation the mission of executing deeds to which the parties wish or are required to endow with 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.
The notary, in his capacity of public officer:
Warrants the validity of the deed of sale;
Is bound to act objectively and to give legal advice to all the parties (equally to the purchaser and the vendor);
Is bound to a duty of information to the parties, which means he should give the parties relevant advice and information in relation with the deeds signed before him.