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I am considering purchasing a condo within a small, seemingly disorganized co-ownership of three units. There is a joint bank account with a balance of $16,000, but many aspects of management are lacking: there are no specific regulations for the building, no separate accounts for reserve funds, insurance funds, and operational funds. There is also no maintenance log. Decisions are made informally among owners without formal meeting minutes. This lack of organization makes me hesitate…...
I am in the process of buying a condo, and I want to make sure I make an informed decision. I understand that many of the essential documents needed to properly assess the potential purchase are found in the co-ownership register. I don’t want to end up with unpleasant surprises after the purchase, so I prefer to have all the details before committing. Questions: But now, several questions come to mind: is it up to…...
As the president of the board of directors, I received a request from a real estate broker seeking full access to our contingency fund study and the building's maintenance log. This latter document compiles detailed information on maintenance procedures and work carried out in the building. These documents have never been fully shared with the co-owners, raising questions about transparency and access to information. Questions: What are our obligations towards the broker and the co-owners…...
I want to know how the condo fees (common expenses) appearing in the ads of real estate agencies are established. These are not constant and put a doubt in the minds of those who want to buy in condominiums. Question: Is there a uniform directive in real estate agencies in this area? What advice should a real estate broker give to his client when he assists him in completing the form of the declaration of…...
Question: We have accumulated significant sums for the repair of the roof, which is to take place in ten years. As part of the sale of my apartment, can I ask the buyer or the syndicate for a refund of the contributions I have paid to the contingency fund?...
I am the co-owner of a new condo. Other owners and I have recently discovered cracks in the foundation of the building, as well as water infiltration in the garage. The developer is mute, and we have not yet transferred the administration. Question: Should we refuse to elect our first Board of Directors, until the issues identified have been corrected? And should I sell immediately before other major problems arise?...
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Question: I plan to purchase the exclusive right of enjoyment of a parking space (common portions for restricted use) a few months after purchasing my apartement (parking is sold directly by the developer). Do I have to go to the notary to change my deed of purchase to indicate that parking is associated with my private portion ?...
Question: I bought my apartment 3 months ago and I just attended my first meeting of co-owners. To my great surprise, I learned that major masonry work had to be done on the building. My seller never told me about it, even though it is obvious that he must have known, since all the other co-owners present at the meeting seemed well informed. This situation worries me a lot, because this work will have a…...
I am about to buy an apartment in a newly constituted co-ownership, and the developer insists that I use the notary they have designated, even though I am the one paying the fees. This is problematic for me because I would prefer to choose a notary of my own to ensure impartiality and protect my interests. Questions: Am I obligated to use the services of the notary designated by the developer even though I am the…...
I plan to buy an on plan apartment. As I am intolerant to second-hand smoke from other units, acquiring a condo in a co-ownership in which my neighbors could be smokers is out of the question. Question: How can I get assurances from the developer, that smoking will be prohibited in the private portions of the building to be built?...
