Advantages Condo

In a recent decision of the Court of Quebec, Small Claims division, the Court had to decide whether the request of two co-owners for damages caused to their unit by water infiltration was late, and if it is not, is the syndicate responsible for damage caused in their privative portion?

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According to the real estate brokers’  provincial database, the Québec Federation of Real Estate Boards recorded 23,079 residential sales transactions in  Québec in the second quarter of 2013. This represents a 7 per cent decrease compared to the... read more

In a recent decision of the Court of Quebec, Small Claims Division, the Court felt that it was important to remind the directors of a co-ownership syndicate as well as a co-owner of the importance for everyone to be flexible in their relations.

The Court noted that quite often some people decide to contribute to the development of their co-ownership by being actively involved in the management of the building. The administrators, although they are regularly in good faith, must act with prudence, diligence, honesty and loyalty, and this in the interest of the syndicate.

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Record growth is not in the foreseeable future of the condo market, but it is also likely the sector will be able to avoid a major downturn, according to the latest Conference Board of Canada condo report released by Genworth Canada.  While markets in major centres such as Vancouver, Montreal and Toronto have been of particular concern, The Summer 2013 Metropolitan Condo Outlook suggests population growth and employment gains will help maintain demand levels to absorb supply inventory.

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Who has not heard yet the saying that “no one is supposed to ignore the law”? In most cases ignorance of the law is not an excuse for committing a wrongful act or failing to act, such as the response to a notice when necessary. In reality, however, it is almost impossible to know all the laws that apply in every situation with legal implications. Everyone, however, has his share of responsibility as far as informing himself is concerned.

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In a recent judgment of the Court of Appeal of Quebec1 the Court considered the question as to how soon a co-ownership syndicate can require testing acoustic performance after replacing the floor coating in a co-ownership unit?

The syndicate turned to the Court of Appeal because its motion to introduce proceedings for a permanent injunction had been denied in Superior Court on the ground that its right to require such tests, and access to the unit to carry them out, was overdue (prescribed) because too much time had elapsed since the installation of new floor coating by the owner.

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Be an informed consumer! Be wary of anyone who approaches you with an offer to make “easy money” in real estate. Remember: if a deal sounds too good to be true, it probably is.

Protect yourself and your family from becoming victims of or accomplices to mortgage fraud. This means:

• Never deliberately misrepresent information when applying for a mortgage.

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Mortgage fraud occurs when someone deliberately misrepresents information in order to obtain mortgage financing that would not have been granted if the truth had been known. This can include:

• Misstating one’s position or inflating one’s income or length of service at their job;
• Misstating employment status (ie. salaried/full time versus contract, part time, hourly or commission-based or self-employed);
• Misrepresenting the amount and/or source of the down payment;
• Purchasing a rental property and misrepresenting it as owner-occupied;

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In order to prepare yourself for a possible visit by an inspector of the Régie du bâtiment or simply to make sure that you are in compliance with the Safety Code and the Building Act, here is a guide for you on the subject.

To what type of building the Régie du bâtiment has jurisdiction to send one of its inspectors?

Above all, it is important to understand that inspectors of the Régie du bâtiment do not intervene in all types of buildings. Indeed, the Régie has jurisdiction in a particular case, namely buildings with nine or more units with three or more superposed units (akin in some ways to the number of floors of the building).

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Energy costs and growing concerns about the environment are prompting many Canadians to try to reduce the amount of energy and water they use. Cutting down on your energy use can also help you save money, whether you pay your utility bills directly or through your rent or condominium fees.

If you live in an apartment or condo, Canada Mortgage and Housing Corporation (CMHC) offers the following tips on how you can save energy and water, and make your home more comfortable:

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