Definition : Right of retention

Right granted to a creditor allowing him to retain the debtor’s property that has been remitted to him and which is closely related to the performance of an obligation, until the debtor pays his debt. The right of retention may be exercised by a creditor, provided that the amounts due to him are related to the property he detains and that the debt is liquid and exigible. In certain circumstances, the co-ownership manager may exercise this right.

WHAT YOU SHOULD KNOW ! The co-ownership manager who is a member of a professional order, such as “l’Ordre des administrateurs agréés du Québec” (Ordre des ADMA) (the Quebec Order of Chartered Administrators), is governed by rules of ethics (article 42 of the Code of Ethics for Chartered Administrators) which obliges him to follow up (with diligence) upon the request of a client who wants to recover his property that is being retained. He shall abide thereto, even if his fees have not been paid.

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