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Collection of printed paper or digital documents that are produced or received by the syndicate of co-owners. These are deposited in the register of co-ownership and can be consulted by all co-owners who request it. These mainly include the immovable’s maintenance and repair plans (e.g. asset management plan), as well as preventive maintenance plans (e.g. maintenance logbook). The same applies to estimates of the costs of rehabilitation work (e.g. the contingency fund survey), budgets prepared for implementation, tender documents and bids received.
WHAT YOU SHOULD KNOW! The co-ownership's accounting books are management tools made available to the Board of Directors. These are not "documents relating to the immovable". As a result, they cannot, in principle, be made accessible to co-owners.
WARNING ! Article 1068.2 of the Civil Code of Quebec, introduced into the Civil Code of Québec by Bill 16, obliges the syndicate to give the promising purchaser all documents or information that will enable it to acquire in full knowledge of the facts.
26/09/2024
I am in the process of buying a condo, and I want to make sure I make an informed decision. I understand that many of the essential documents needed to properly assess the potential purchase are found in the co-ownership register. I don’t want to end up with unpleasant surprises…...
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…...
09/08/2024
The notary is a jurist with the task of public officer, who ascertains the free and informed consent of the parties. The notary also has the role of legal adviser. It therefore protects consent. The intervention of the notary is very important when purchasing an apartment in a divided co-ownership.…...
02/04/2024
Optimal management of a co-ownership (condominium) is rooted in the meticulous keeping of a register and so, in accordance with section 342 of the Civil Code of Québec; this register, partially accessible to co-owners, contains vital information for the proper functioning of the co-ownership such as the contact details of the co-owners as well…...
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…...
16/09/2010
When you want to buy a condo, there are important checks to do and documents to obtain. One of the main checks is to know the financial health of the syndicate. This information must be complete and transparent. If the co-ownership has been poorly managed, you could find yourself paying…...