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Provision by which an insurer undertakes to indemnify an insured (or a third party) upon the occurrence of an uncertain and aleatory event called “risk” conditionally upon the payment of an insurance premium.
10/09/2024
A representative from my home insurance provider informed me of something that doesn’t seem logical to me. According to him, if the description of the private portions, meant to distinguish the improvements made to my unit (such as hardwood floors or custom cabinets), was not voted on and approved by…...
01/07/2024
A bathtub or a washing machine that overflows into the apartment below, a water heater that conks out and spills down six floors: losses involving the civil liability of a co-owner are many co-ownerships. And they are expensive! This is why the amount of insurance premiums and deductibles have increased significantly in…...
28/05/2024
Article 1039 of the Civil Code of Quebec provides that the community of co-owners, as a legal entity, has the mission of preserving the building, maintaining, and managing the common portions. This article also states that the syndicate of co-owners must ensure the execution of the necessary work to prevent the…...
25/05/2024
The insurance premium is the amount that the insured must pay, either monthly or annually, to benefit from the coverage provided by the iinsurance policy in case of a loss. It is a cost associated with the maintenance, upkeep, and administration of the building. Although the co-ownership syndicate is responsible…...
23/05/2024
Legal expense insurance is an essential protection for co-owners offering partial or full reimbursement of lawyers' or notaries' professional fees with the objective of preventing or resolving a dispute; although this insurance has conditions, deductibles and limits, it can be a major asset in the event of a conflict. Insurance companies offering this…...
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…...
18/03/2024
In a divided co-ownership, most storage water heaters (electric or gas) play an essential role in the daily comfort of residents; typically installed inside the apartments, these devices are considered to be part of the private portions thus falling under the individual responsibility of each co-owner and so, it is imperative for them to ensure…...
22/08/2023
22 août 2023 - Un devoir fondamental d’assurer l’entretien et la conservation de l’immeuble s’impose aux administrateurs de tout syndicat de copropriété; c’est d’ailleurs là leur mission première. Il en découle l’obligation de pourvoir aux coûts engendrés par ces travaux. Voyons donc quelles sont les principales sources de financement des…...