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Legal proceeding allowing a creditor holding a conventional or legal hypothec to obtain recognition of his rights, when the debtor is in default of fulfilling his obligations and the claim is liquid and exigible. Before exercising a hypothecary recourse, the creditor must always give the debtor a prior notice that is served and published in the Québec Land Register (when the hypothec is immovable). The creditor generally has two options of recourses: sale under judicial authority or taking in payment. Insofar as the debtor is an enterprise, the creditor could also opt for taking possession for purposes of administration.
01/07/2024
Common expenses (condo fees) must be paid by any co-owner. If they don't pay, they are considered "in default". The management of unpaid common expenses in co-ownership is a complex subject, often a source of concern for both syndicates and buyers. Indeed, the latter may find themselves responsible for the…...
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…...