Definition : Financing (common portions)

Allocation of funds (by the syndicate of co-owners) destined for the execution of work to be done in the common portions. These funds may come from a variety of financing sources, including:

• From the operation fund;
• From the contingency fund, in the case of major repairs, or the replacement of common portions at the end of their useful life;
• From self-insurance fund, in the case of rehabilitation work of the building, resulting from a loss, which are not compensated by the insurer.
• A loan contracted by the syndicate;
• A special assessment from the co-owners, when the syndicate does not have the required amounts, and/or in the event that the contingency fund cannot be used to carry out the work.