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Mandatory process prior to the adoption by the Board of Directors of any budget forecast of the co-ownership. It allows the Board of Directors to sound out the co-owners as to the general orientations of the expenses of the co-ownership.
WHAT YOU SHOULD KNOW! Section 1072.1 of the Civil Code of Quebec stipulates that board of directors shall consult the general meeting of the co-owners before deciding on any special contribution to the common expenses.
29/02/2024
Preparing a forecast annual budget is an unavoidable task in a co-ownership (condominium); its preparation, preliminary examination and adoption will ensure the proper functioning of the syndicate of co-owners. It is up to the board of directors to define the terms of the forecast annual budget based on the expenses that will have to…...
09/08/2022
At our last Annual General Meeting, the Board of Directors presented the estimated budget for the coming year. This budget provided for a substantial increase of the common expenses, as significant work was to be carried out during the year to upgrade the elevator. Many co-owners did not agree with…...