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Financial data resulting from the surpluses accrued in each of the funds of a co-ownership. Net assets correspond to total assets from which are subtracted the liabilities. This data reveals the financial health of the co-ownership, whether the syndicate of co-owners has surpluses or if it is in deficit.
04/10/2024
The syndicate acts as a legal person bringing together all the co-owners of the building and not each of them individually. The Civil Code of Quebec (C.c.Q.) provides that the syndicate of co-owners arises, by operation of law, at the time of publication of the declaration of co-ownership in the Land register. With the powers devolved to it by…...
15/07/2016
The accounting of the co-ownership is managed by the members of the board of directors or the manager designated by the latter. It is necessary for them to understand the rules of accounting in order to ensure the effective management of the syndicate of co-owners on a daily basis and…...
19/12/2017
The statement of financial position, also known as the balance sheet, lists the assets, liabilities and net assets of the co-ownership syndicate at a specific time. It is a picture of the financial situation at a given date compared to other statements that usually cover a full fiscal year. The…...