Definition : Memorandum

Compulsory document that completes the preliminary contract and that the builder or developer must give to the buyer, when the sale concerns a fraction of divided co-ownership of a residential immovable.

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  I plan to buy an on plan apartment. As I am intolerant to second-hand smoke from other units, acquiring a condo in a co-ownership in which my neighbors could be smokers is out of the question. Question: How can I get assurances from the developer, that smoking will be prohibited in the private portions of the building to be built?
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When the sale concerns a fraction of a divided co-ownership of a residential immovable, the preliminary contract must be accompanied, at the time of its signature, by certain documents (such as forming with it an indivisible whole). This includes the information note on the essential characteristics of the project, whether it is a new co-ownership or under construction, or a building that has undergone major renovations to the point of now being considered new. In addition, the contract of guarantee will complete the preliminary contract. It concerns immovables or projects subject to the Regulation respecting the guarantee plan for new residential buildings, i.e. those with no more than 4 private portions stacked one above the other (apartments).
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The insurance of the syndicate covers the common portions of the immovable, as well as your private portion. In the event of a loss, it will not cover you for the improvements made to your private portion. It is your responsibility, therefore, to ensure that these improvements are adequately, by the means of an individual insurance. This is generally the case, if renovations have been carried out with material of a higher quality than the original one. Your insurance policy must cover the value of the improvements you have made yourself, as well as those made by previous co-owners.  
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