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Contractual document that:
This document is an integral part of the register of co-ownership and shall be made available to any co-owner upon request.
WHAT YOU SHOULD KNOW ! Any change to the insurance policy (insurance contract) in force, including the addition, change or cancelation of the insured coverage (guarantees) is called a "rider".
23/06/2024
The insurer of a co-owner responsible for water damage affecting the condo below proposes to reimburse the syndicate $20,000. The deductible for our co-ownership syndicate's insurance policy is set at $50,000, and according to an obtained repair estimate, the repair costs amount to $30,000. Questions: Why doesn't the responsible co-owner's…...
28/05/2024
Article 1039 of the Civil Code of Quebec provides that the community of co-owners, as a legal entity, has the mission of preserving the building, maintaining, and managing the common portions. This article also states that the syndicate of co-owners must ensure the execution of the necessary work to prevent the…...
25/05/2024
The insurance premium is the amount that the insured must pay, either monthly or annually, to benefit from the coverage provided by the iinsurance policy in case of a loss. It is a cost associated with the maintenance, upkeep, and administration of the building. Although the co-ownership syndicate is responsible…...
23/05/2024
Legal expense insurance is an essential protection for co-owners offering partial or full reimbursement of lawyers' or notaries' professional fees with the objective of preventing or resolving a dispute; although this insurance has conditions, deductibles and limits, it can be a major asset in the event of a conflict. Insurance companies offering this…...
20/05/2024
With the increasing presence of tenants in divided co-ownership buildings, it is essential for all stakeholders to fully understand the issues related to insurance coverage. Unlike in other countries, Quebec law does not require tenants to purchase “home insurance”, which would cover their belongings and civil liability in the event…...
10/05/2024
The tasks of the condo manager are numerous. The latter may be mandated to manage the immovable, and thus ensure its preservation and maintenance; implement the decisions of the board of directors; settle major losses, take out the insurance required for your syndicate, but also to enforce the by-laws of…...
10/05/2024
A co-ownership may face a multitude of risks such as fires, water damages, break-ins and acts of vandalism. In the event of a loss, the co-ownership's insurance plays an essential role in ensuring its sustainability and so, by covering not only the immovable itself but also the civil liability of the syndicate of…...
28/04/2024
In our building, we have several co-owners who rent out their apartments. As members of the Board of Directors, we often find ourselves in meetings, discussing and questioning the specifics of their insurance obligations related to this rental activity. Questions arise: Are there any special insurance rules for condo owners…...
27/04/2024
The day-to-day administration of the co-ownership may be entrusted to a co-ownership manager who may or not be chosen from the co-owners; thus, the syndicate can delegate to the co-ownership manager other tasks and responsibilities that are generally handled by the board of directors such as the collection of claims, the publication of a notice regarding a legal hypothec…...
27/04/2024
The director plays a leading role in a co-ownership; as a mandatary of the syndicate of co-owners, he ensures the smooth running of the immovable’s day to day business which implies a working knowledge of the tasks related to this function. As such, directors must act with prudence, diligence, honesty and loyalty because they evolve…...
27/04/2024
A syndicate is likely to incur civil liability towards co-owners but also third party members; this liability can be illustrated by the financial contribution of the co-owners because in the event of a judgment condemning the syndicate to pay a sum of money, this judgment will be enforceable against him and…...
27/04/2024
The law obliges syndicates of co-owners to insure their immovable; the majority of declarations of co-ownerships also have such requirement. This can be explained by the syndicate's main objective which consists to ensure the preservation of the immovable and its longevity; this is why the legislator has given to the syndicate an insurable interest and has made it…...
02/04/2024
Optimal management of a co-ownership (condominium) is rooted in the meticulous keeping of a register and so, in accordance with section 342 of the Civil Code of Québec; this register, partially accessible to co-owners, contains vital information for the proper functioning of the co-ownership such as the contact details of the co-owners as well…...