Definition : Request for information to the syndicate of co-ownership (DRCOP)

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?

As directors, we frequently have to complete and provide documents to notaries and real estate brokers. Questions:  We want to know: If we are entitled to charge a fee to take care of these files? If so, what is the amount considered reasonable?  Should we proceed by adding to the by-law of the building? If so, can we proceed by a majority vote or simply by decision of the Board of Directors?

Question:  We have accumulated significant sums for the repair of the roof, which is to take place in ten years. As part of the sale of my apartment, can I ask the buyer or the syndicate for a refund of the contributions I have paid to the contingency fund?

Seeking the services of a real-estate broker, who was formerly referred to as a real estate agent, is not mandatory. However, unless you are able to assume the purchase and / or sale of a fraction of a building held in divided co-ownership by yourself, which will require ample time as well as in-depth knowledge in various fields, you would benefit from being accompanied by a competent real estate broker during your procedures. When you use the services of a real estate broker to buy, sell or lease a property, you are protected by the Real-Estate Brokerage Act.  

Managing a co-ownership requires accounting and financial skills. If the manager masters them, he will be able, under the supervision of the board of directors, to play a crucial role in the proper operation of the immovable. For instance, he will know how to balance budgets and manage efficiently the funds of the co-ownership such as monitoring contracts with various service providers, the payroll (salary of the janitor) and the work to be done in the short, medium and long term. A review of the various financial tasks that could be entrusted to the co-ownership manager.  

There is an administrative component in co-ownership Management that should not be neglected; its proper implementation will ensure the smooth operation of the syndicate of co-owners. The contractual agreement between the latter and the manager, may stipulate that various assignments – all equally important - allocated to the manager. If many cases, his duties will be numerous and will require not only thorough knowledge of the declaration of co-ownership, but also reasonable knowledge of the legislative framework governing this collective housing mode. A review of the range of duties that can be entrusted to co-ownership managers.

I want to buy a condo, but I am aware that for the most part the documents necessary for an informed purchase are in the register of the co-ownership.    Question: How can I access the register of the co-ownership? Is it for me or the seller to ask? If I have to take care of it, can I do it alone or do I need a third person to accompany me through this process? Answer: The co-owners are entitled to have access to the register of the co-ownership, in accordance with the duties of the syndicate. However, potential buyers are deemed to be complete strangers, which explains why many syndicates do not usually allow them access.