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Amounts spent by the syndicate of co-owners for work related to major repairs and the replacement of the common portions of the immovable, to be distinguished from their mere maintenance.
15/12/2024
As the president of a horizontal co-ownership, I have noticed confusion among co-owners. They believe that the contingency fund can cover work on private portions, such as roofs, windows, or exterior cladding. However, under the Civil Code of Québec, this fund must be used exclusively for common portions. Question :…...
27/06/2024
Co-ownership work is of the utmost importance. Yet, they are more often than not overlooked by the syndicates of co-owners. Work that needs to be done in common portions can be minor or major in scope. Yet one needs money to pay for them. Good financial planning is therefore advisable…...
23/06/2024
Every syndicate of co-owners has obligations regarding the maintenance of the common portions. The certificate of the state of the immovable is an essential step in ensuring the preservation of the immovable; it constitutes a preliminary step before seeking the services of a professional to conduct a contingency fund study. The certificate…...
16/06/2024
As beautiful as it may be, a new co-ownership will age and eventually require major repairs. In Quebec, however, about half of the syndicates of co-owners do not have any management tools to adequately fund the contingency fund. This issue, which can sometimes have financially disastrous consequences for certain co-owners,…...
01/01/2024
Dans cette capsule vidéo, l’avocat émérite Yves Joli-Coeur explique le concept du Fonds de prévoyance. Il rappelle qu’avec l’entrée en vigueur du Code civil du Québec, en 1994, le législateur québécois a introduit l’obligation, pour tout syndicat de copropriétaires, de se doter d’un « fonds de prévoyance ». Ce fonds…...
31/07/2020
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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…...