Definition : Syndicate of co-owners - Liquidation

All the operations, initiated by the liquidator after the vote of the co-owners terminating the co-ownership, to collect the receivables and to pay the syndicate of co-owners’ debts, then to reimburse hypothecary debts and prior claims encumbering the fractions and the co-owners contributions.

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The divided co-ownership of a building is not necessarily intended to last for eternity. The end of the co-ownership, and therefore the dissolution and liquidation of the syndicate, is justifiable, for various reasons. The dissolution of a co-ownership leads to a liquidation process. This process is regulated by articles 1108 and 1109 of the Civil Code of Québec, which refer to the rules applicable to legal persons concerning their liquidation.The question of putting an end to your co-ownership may one day arise. There are therefore various questions to be asked about this approach. What are the reasons for terminating a co-ownership? What are the modalities and consequences of a dissolution? Answers in this fact sheet!
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