Direct debit : Direct debit

Definition : Direct debit

Payment instrument by which a co-owner gives his agreement to a bank or a caisse populaire for the financial institution to pay the syndicate its common expenses. This authorization will then be executedon a recurring basis, most often monthly. The direct debit is made by the financial institution of the co-owner on the condition that his account has a balance allowing the settlement of the syndicate.

01/03/2024

Common expenses: allocation and collection

The co-ownership (condominium) gives rise to expenses relating to the maintenance of the common portions and the day-to-day administration of the syndicate. Administrative, maintenance, replacement, improvement or alteration expenses of the common portions are divided among the co-owners of the immovable. General common expenses are to be distinguished from particular common…...

Management

Definition : Direct debit

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Common expenses: allocation and collection