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Use without right, by the board of directors, of the contingency fund to make payments that are not related to major repairs and replacements of the common portions of the building. At the request of a co-owner, the court may order a syndicate of co-owners and its directors to reimburse the sums misappropriated therein.
21/10/2024
A co-ownership is exposed to various types of risks, such as fires, water damages, theft and acts vandalism; among these risks, one that is often overlooked is fraud. Those capable of committing fraudulent acts can sometimes be unsuspected or seemingly above suspicion; this includes director, co-owner, condo manager, service providers, and…...
21/10/2024
The field of condominium management in Quebec remains without legislative oversight, a situation that could lead to similar abuses as those recently seen in Europe. While other Canadian provinces or European countries strictly regulate this profession, Quebec still lacks a specific legislative framework for managers. This lack of regulation allows…...
09/08/2022
At our last annual co-owner's meeting, the board of directors informed us that it was going to take $10,000 from our contingency fund to set up a self-insurance fund. To justify their decision, the directors said that this will allow to avoid putting up a special assessment. Several co-owners seemed to…...