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Document issued by a syndicate of co-owners at the request of an owner wishing to sell their fraction. Its form and content are determined by government regulation, and it must be provided in due time to the promisor (the prospective buyer). For this purpose, the syndicate has a period of 15 days to deliver the certificate to the co-owner who makes the request. This document provides an overview of the financial, material, and legal situation of the co-ownership, including in particular the state of the reserve fund, major repairs made to the common portions, as well as ongoing litigation involving the syndicate.
WHAT YOU SHOULD KNOW! Article 1068.1 was introduced into the Civil Code of Quebec in December 2019. It requires the seller of a unit to provide the prospective buyer with a certificate from the syndicate regarding the condition of the co-ownership.
17/09/2024
When you buy a unit in divided co-ownership, you do not only acquire an apartment. You also join a group of co-owners responsible for the accounts to be paid to maintain and preserve the building. It is therefore important to be careful and to check, upstream, the financial statements and…...
11/09/2024
Le jeudi 12 septembre 2024 de 19h00 à 21h00, nous étions réunis pour une émission spéciale de webradio dédiée aux nouvelles obligations légales pour les syndicats de copropriétaires. Cette émission a enregistré une audience record ! Mercredi 11 septembre 2024, le Gouvernement du Québec a publié, dans la Gazette officielle du Québec,…...
11/03/2024
During the sale of an apartment, we, as directors, often have to complete and provide documents to notaries and real estate brokers. Clearly, we understand that the goal is to properly inform the prospective buyer about various aspects of their purchase. We also understand that this process aims to ensure…...
20/02/2024
The contract for services must clearly outline the condo manager's remuneration regarding the day-to-day management services provided for the co-ownership (condominium); this management includes the usual acts that are generally part of the base package but the manager can also request additional fees for extra rendered services. ...
13/12/2010
For the promising buyer, the offer to purchase is a way to reserve a property on conditions that he sets himself. When signing an offer to purchase, it may be that certain aspects surrounding the sale are beyond its control. This will happen, for example, if they have to sell…...
16/09/2010
The declaration of co-ownership is intertwined with the purchase of an apartment held in divided co-ownership. A genuine "user's guide", this document defines the rules to be observed in the immovable, as well as its administrative and management guidelines. Before acquiring a condo, any careful buyer should, imperatively, read the declaration…...