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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.
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…...
09/08/2022
A bathtub or a washing machine that overflows into the apartment below, a hot water tank 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…...