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Natural or legal person holding a hypothec on a fraction of co-ownership. In relation to the syndicate of co-owners, a hypothecary creditor is an interested party when the decision is taken to terminate the co-ownership. Indeed, this decision of the general meeting of co-owners must be supported by the written consent of all persons holding hypothecs on all or a portion of the immovable.
23/07/2024
It is possible to make a decision without having a meeting. Article 354 of the Civil Code of Québec recognizes the value of a written resolution: "Resolutions in writing signed by all the persons qualified to vote at a meeting are as valid as if passed at a meeting of…...
20/07/2024
The divided co-ownership of a building is not necessarily intended to last for eternity. The end of the co-ownership, and therefore the dissolution and liquidation of the syndicate, is justifiable, for various reasons. The dissolution of a co-ownership leads to a liquidation process. This process is regulated by articles 1108 and 1109 of the Civil…...
20/07/2024
.The declaration of co-ownership is a contractual document drawn up by the person who subjects an immovable to the regime of divided co-ownership. Its publication in the Quebec Land Register is a necessity for the existence of a syndicate of co-owners. It includes all the rules ensuring the efficient organization…...
30/06/2024
The failure to pay general or special common expenses (condo fees) is one of the most contentious co-ownership’s issues. It is the duty of the board of directors of the syndicate of co-owners to collect them, unless this task has been delegated to the condo manager. When a co-owner's contributions have…...
30/06/2024
Any co-owner may have the relative value of their fraction, as well as the allocation of common expenses (condo fees), revised according to certain conditions and formalities. To do so, it is necessary to proceed with an appeal to revise the relative value of the fractions. Furthermore, a co-owner may…...
30/06/2024
Sometimes, co-owners of contiguous private portions wish to modify the boundaries of their private portions. For example, if one of the two co-owners wishes to enlarge their apartment by incorporating part of the adjacent unit, specific procedures are necessary. Similarly, when a co-owner wishes to merge two units they own…...
27/04/2024
The law obliges syndicates of co-owners to insure their immovable; the majority of declarations of co-ownerships also have such requirement. This can be explained by the syndicate's main objective which consists to ensure the preservation of the immovable and its longevity; this is why the legislator has given to the syndicate an insurable interest and has made it…...
03/06/2015
It is indeed a rare occurrence when a buyer pays its condo, in one single payment. Most of them must obtain a mortgage loan to finance their purchase. What are the criteria and conditions to get a mortgage loan? Whom should you get it from? Banks, credit unions or other sources? What…...
03/12/2023
When you buy in a newly built divided co-ownership, a portion of the fractions of the building (apartment, parking or storage space, etc.), or even all, can be the subject of a notice of legal hypothec of construction. The Civil Code of Quebec introduced this hypothec in order to protect…...
25/10/2010
The deed of sale must show the intent of both the seller and the purchaser. It confirms the agreements between the parties, in particular those of a financial nature. These agreements are generally written in details in the offer to purchase. Keep in mind that it is not compulsory to reproduce…...