Definition : Prior notice of the exercise of a hypothecary right

Prior warning that a hypothecary creditor must inform his debtor as to his intention to exercise his recourse relating to the exercise of a hypothecary right (taking in payment, sale under control of justice, sale by the creditor and taking possession for administrative purposes). The creditor must serve on the debtor the prior notice of exercise of a hypothecary right and file it with the land registry office, together with proof of service on the debtor and, where applicable, on the grantor, as well as on any other person against whom he intends to exercise his right. Article 2758 of the Civil Code of Quebec determines the mandatory content of the prior notice of the exercise of a hypothecary right.

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When you buy in a newly built divided co-ownership, a portion of the fractions of the building (apartment, parking or storage space, etc.), or even all, can be the subject of a notice of legal hypothec of construction. The Civil Code of Quebec introduced this hypothec in order to protect the persons who participated in its construction or renovation (architect, engineer, supplier of materials, workman, contractor or subcontractor) so that they can be reimbursed for work and services carried out on an immovable. As a buyer, will you be required to pay the developer's debts if it defaults on its construction creditors? If so, will the amounts claimed be distributed among all co-owners? And what will happen if they refuse to pay?
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