Question: I want to sell my apartment. I am aware that I must provide a number of documents to the real estate broker who takes care of the sale, to the buyer in the making whose offer I will have accepted and to the notary who is in charge of drafting the official documents of the sale. Specifically, whatare the documents to be communicated to the buyer of a co-ownership?
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The manager usually plays a key role in a co-ownership. Similarly to the board of directors, his duty is to preserve the immovable of which he is responsible. His appointment eases the director’s tasks, without the manager being substituted in their function. The board members will thus be better able to exercise their decision-making powers. That being said, managing a co-ownership is not always an easy task. It is in the best interest of directors to ensure that the manager assumes his mission with dignity, loyalty, diligence and honesty. To this end, the board of directors would be well advised to implement a code of conduct in which professional ethics are addressed, namely, without limitation, compliance with laws and regulations, transparency, confidentiality, conflicts of interest and, of course, discipline.
The board of directors occupies an important function in co-ownership governance. It holds meetings as often as the interest of the collectivity of co-owners require and addresses any matter that concerns the syndicate’s good management. These meetings are moderated by a president who ensures their efficient conduct. Directors can debate and reflect upon the orientations to give to their co-ownership. The more carefully and methodically the meetings are prepared, the more motivated and interested the members will be to participate thereto. Moreover, precise rules must be followed imperatively, otherwise the decisions taken could be invalidated.