![]() ![]() It is required by law to have insurance against all the usual risks for the whole immovable – the common and private portions. In the absence of a contingency fund, the co-owners will have to pay for the work out of their own pockets!Īs a corollary to its obligation to maintain the property, the condo syndicate should also take out insurance. It must remain liquid and available at all times as it is used to pay for important work. Under the law, each co-owner must contribute at least 5% of his contributions to the common expenses to the provident fund. While this is one of the most important obligations to meet, it is the one that is most neglected in practice. The second obligation of the condominium syndicate is the creation of a contingency fund. These include expansion, excavation, or other major projects. Under the law, the condo syndicate is vested with the powers of simple administration of the co-ownership and must, therefore, obtain the approval of the co-owners when their work goes beyond their authority. This general duty is however very encompassing and includes in particular the maintenance of the building and its common parts, the safeguarding of its rights, as well as the implementation of the various necessary works. ![]() Moreover, the union’s main obligation is to ensure the conservation of the building. But with rights also come obligations so here’s everything you need to know about your condo syndicate’s powers and duties! ![]() In doing so, all the owners are part of it and since the syndicate has a separate legal personality, it is authorized to take steps to administer the property. In simple terms, the syndicate is a legal entity set up to facilitate the administration of a divided co-ownership. To be able to benefit from these rights, you must know and understand them well. ![]() Why is it essential to know the contents of your condominium declaration? Because it establishes your rights and obligations as a co-owner. For example, if there is a pool or a gymnasium, there is a strong likelihood that the building’s regulations will provide for the hours of operation to limit its use.įinally, the description of the fractions constitutes the most technical document of the declaration of co-ownership since it includes the cadastral designation of the common and private portions as well as a description of the easements and other real rights attached to the immovable. The more common portions there are in the building, the more detailed the rules will be. The condo by-laws are the second document forming part of the declaration of co-ownership which serves primarily to establish the rules relating to the use of the private and common portions. The number of votes cast at the meeting is also indicated in the same document. This document acts as the foundation of the co-ownership since it serves to establish its purpose, define the common and private portions, specify the relative value of each portion, and determine the share for the common expenses of each co-owner. It is divided into three separate documents, the first being the act constituting the co-ownership. To ensure the sound administration of these areas, a declaration of co-ownership must be registered in the Land Register to specify the extent of the rights and obligations of the syndicate, the Board of Directors, and the co-owners. There are private portions belonging exclusively to the owners concerned as well as common portions which belong to all of the co-owners. JuriGo can help you assert your rights as a co-owner, just contact us to meet with a specialized lawyer! Know the contents of your condominium declaration!Ĭondo buildings represent a situation of divided co-ownership. Is the syndicate doing a good job? For which part of the building is the syndicate or owner responsible? To obtain the answer to these questions, it is necessary to turn to the declaration of co-ownership as well as the law. This often misunderstood entity is a source of friction and conflict. ![]()
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