Any co-owner may have the relative value of their fraction, as well as the allocation of common expenses, revised according to certain conditions and formalities. To do so, it is necessary to proceed with an appeal to revise the relative value of the fractions. Furthermore, a co-owner may wish to modify the relative value of their fraction. Therefore, they will have to request the prior consent of the Board of directors or the general meeting of co-owners, depending on what is required.
This revision or modification of the relative value has an impact on the proportionate share of the right of ownership (which the co-owners hold in the common portions), the number of votes they can cast at the meeting of co-owners and the allocation of common expenses. On this question, Article 1064 of the Civil Code of Québec stipulates that: “Each co-owner contributes to the common expenses in proportion to the relative value of his fraction.”
When shopping for an apartment, you must find out if it is in a divided or undivided co-ownership. Even though both concepts are similar in that their ultimate goal is the partition of an immovable between several persons called co-owners, the financial and legal commitments are different.
Administrative, maintenance, replacement, improvement or alteration expenses of the common portions are divided among the co-owners. General common expenses are to be distinguished from particular common expenses, which are allocated under different rules. In the first case, it is the relative value of each fraction that is used to establish the co-owners contribution. As for special common expenses arising from common portions for restricted use, the co-owners using them are alone responsible of the expenses resulting therefrom.
Question: In the declaration of co-ownership, there is a table determining the relative value of the apartment I plan to buy. And I am told that the allocation of common expenses is particularly in relation to this same "relative value". I wonder what exactly it is and whether it can be changed at the time of purchase?
Login / Register to read this article