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Severe loss which may have dire consequences upon the syndicate of co-owners. In such circumstances, the insurance indemnity is paid to an insurance trustee. Criteria to establish what constitutes a "substantial loss" may be introduced by regulation of the Quebec Government.
23/07/2024
Divided co-ownership is a housing formula that usually has more than one owner. In order to assess and quantify the interest of each person in the building, the legislator has provided that the right of ownership of each owner in the common portions is proportional to the relative value of his…...
27/05/2024
Any co-ownership can one day face a major disaster. For example, a fire might ravage several units, or water damage might affect multiple floors due to a burst pipe. These situations lead to very high repair costs and are classified as "substantial loss". The financial burden can be overwhelming for…...
25/05/2024
After being victims of a loss, the members of the board of directors and the affected co-owners are often caught off guard. How will things unfold? There is no need to worry or panic, because in principle, once the notice of loss completed, various stakeholders get involved: the insurer of…...
13/02/2024
On Tuesday February 13, 2024 at 7:00 p.m., we addressed a complex subject regarding co-ownership claims: the role of the insurance trustee. Following a significant loss" in co-ownership, the law requires the intervention of an insurance trustee to manage the compensation, thus ensuring the repair or reconstruction of the building,…...
24/03/2021
Le mercredi 24 mars 2021, la Webradio de Condolegal.com a abordé le thème de la gestion des sinistres en copropriété. Animée par François Cellier, cette édition a énoncé les démarches nécessaires après un incendie ou un dégât des eaux. L'accent a été mis sur l'importance du rôle du fiduciaire d’assurance et…...