Advantages Condo

An important aspect of the insurance of a divided co-ownership is the fact that Québec's legislators believed it to be wise to entrust a third party with the management of the rebuilding of the building and the indemnity paid by syndicate's insurer in the event of a major insurance loss.

On this subject, article 1075 of the Civil Code of Quebec states as follows:

“1075. The indemnity owing to the syndicate following a substantial loss is, notwithstanding article 2494, paid to the trustee appointed in the constituting act of co-ownership or, where none has been appointed, designated by the syndicate.

As it belongs to the Board of Directors of the syndicate to establish in a final way the budget for the upcoming year, it will have to inform each co-owner about the amount of his contributions and about the date when they are due. However, the perception of the common costs can raise certain difficulties for the members of the Board of Directors: sporadic payments by some, refusal by others because of a disagreement with the Board of Directors, others who go through a difficult financial period, or also those who refuse to discharge their common costs for the reason that they do not obtain a good “service” from the Board of Directors.

When you go to the notary, in particular for the purchase of a property, you will be there probably for approximately an hour. That moment when you become an owner is only part of the work which the notary completes in a file. Indeed, an important part of his work is to take care, according to article 1723 of the Civil code of Quebec, to guarantee to the purchaser, on behalf of the salesman, that the building is free of all claims, in particular mortgages and constraints which could burden it.

The Co-ownership Advisory Committee will consider all the points of view it receives. Based on the number and relevance of these points of view, it may decide to invite all those who have submitted their comments and asked to be heard to attend the Consultation Days, or, if need be, it may determine which ones it will hear.

Divided co-ownership is not a new phenomenon on the real-estate development scene in Quebec, being that the first divided co-ownerships were introduced around 1970. Since that time project styles and trends have evolved: highrise buildings, row houses, triplex construction, etc. Some are certainly more luxurious than others and some units have impressive floor plans, often of more than a 1000 square feet.

Quebec will consult the public about how to change the rules governing condo construction in the province, Justice Minister Jean-Marc Fournier said Sunday.

The boom in condo construction in Quebec has led to several problems that must be corrected, Fournier said. The provincial government intends to enact new legislation, but wants to first get input from citizens, he said.

In the administration of any syndicate of co-ownership, and of course in the life of any co-owner, the day will come when the syndicate needs to enter the co-owner's private portion. However, it is important to understand the rights and obligations of the syndicate, as well as the co-owner.

Article 1042 of the Civil Code of Quebec establishes the rule that the portions of the buildings and the grounds that are designated as “private” are the property of a specific co-owner who has exclusive use of it. In most cases this will mean the co-owner's residence, or may be in certain cases occupied by a tenant.

In June 2011, property sales increased for the first time after 13 consecutive months of sales decreases. In terms of property categories, condominiums were the first to post an increase in number of sales. More specifically, since May 2011, condominium sales have  only  increased,  while  sales  of  single-family  homes  and  plexes  continued  to decrease or remained at the status quo. Condominium sales also stood out after the recession,  posting  their  largest  increases  between  the  months  of  October  2009  and March  2010.  Low  mortgage  rates  and  economic  growth  therefore  benefitted condominiums more than the other property categories.

The annual results also showed that condominium construction reached record levels in the Montréal, Québec and Trois-Rivières CMAs, as well as in the Saint-Hyacinthe CA.
 

We are often asked the following question by the members of the Boards of Directors of co-ownerships, and by the co-owners: “If there is nobody who wants to sit on the Board of Directors, can’t we then just hand everything over to a manager and leave it up to him to take care of it?” Our answer is always, No.

A co-ownership can be made up of as few as two housing units, but regardless of the size of the co-ownership,...