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Additional guarantee in a deed of hypothecary loan, by which a co-owner relinquishes, in favor of his creditor, the voting rights attached to the fraction he has hypothecated. This right is generally exercised by the hypothecary creditor only if the co-owner defaults of his obligations towards the creditor. The voting rights transfer must be notified to the syndicate to preserve its opposability.
23/07/2024
During a meeting of co-owners, important decisions are made for each member of the co-ownership. These meetings are crucial as they determine the future management and maintenance of the property. Whether for alteration or improvement of the common portions, the election of the members of the board of directors, it…...
02/04/2024
Optimal management of a co-ownership (condominium) is rooted in the meticulous keeping of a register and so, in accordance with section 342 of the Civil Code of Québec; this register, partially accessible to co-owners, contains vital information for the proper functioning of the co-ownership such as the contact details of the co-owners as well…...
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…...