Advantages Condo

When an annual general or special assembly of the syndicate of co-owners is convened the majority of co-owners will choose to attend in order to exercise their right to speak and vote on matters within the competence of the general assembly of co-owners. However, it is possible that a co-owner can not be present there for various reasons. In this case, any co-owner may be represented at the assembly by the person of his choice who will exercise all the rights of the co-owner in the same manner as if the co-owner were present. It is a mandate under section 2130 of the C.c.Q: « The mandate is a contract by which a person, the mandator, empowers another person, the mandatary, to represent him in the performance of a juridical act with a third person, and the mandatary, by his acceptance, binds himself to exercise the power. The power and, where applicable, the writing evidencing it are called the power of attorney. »

- Check the average price in your area. A much lower than average price could be a source of problems or a lack of seriousness. Indeed, snow removal companies equipped with specialized machinery have fixed costs and must charge their customers based on their spending. Accepting a bid too low could be risky for you. In contrast, you can negotiate with the contractor in the case of a higher price.

- Insist on a written contract containing all the obligations of the contractor including: the period covered by the contract, starting from how many centimeters of snow he must clear, at what time of the day the snow must be removed, the price of extras such as spreading salt or sand or clear access to the doors as well as the total price and payment terms.

When we think of the administration of a dwelling in co-ownership, what draws our attention are often the dwelling units since these units are inhabited by the co-owners who spend most of their time there when they are present in the building.

However, we must not forget that the parking spaces, whether they are located outside or inside the building, may be subject to specific rules contained in the declaration of co-ownership.

It is important to know that when a minor child is a heir, the Law provides a lot of control mechanisms to ensure that the goods received by it are protected. First, when a minor inherits a sum of more than $ 25,000, the Law requires a judicial proceeding to create a tutorship council to oversee what the guardian does with the money that is the property of the child, regardless of whether the guardian is the surviving parent or another person appointed to this task.

Then, you should know that the surviving parent, who is also the guardian of the child cannot do what he wants with the goods that his/her child has received. For instance, your spouse could end up as the co-owner of the family-home with your 10 year-old son.

A building is definitely an important investment in a lifetime, it is thus essential to plan what you want to do with it to make it as profitable as possible, either by assigning it to your children, by selling it to keep the profit, or by passing it on by will. What one realizes is that, although they are increasingly informed by the complexity of the choices available to them, people do not necessarily know what is best to do with their dwelling. Thinking about what you want to do with this investment helps to protect your assets as much as possible.

The aim of this paper is to provide general information to disentangle different situations and enable you to go to the right people and have some tools on hand to make an informed decision regarding your situation.

In certain very specific cases, the Civil Code of Québec provides that the number of votes that may be cast personally by a co-owner can be reduced. These rules are enacted by the legislator in order to avoid that a co-owner who has the majority of the fractions and the votes can control the assembly of the co-owners at the expense of minority co-owners. In other circumstances, the votes of co-owners deprived of their right to vote because of their failure to pay their share of the common expenses or contribution to the emergency fund for more than three months must be subtracted from the total votes of the co-owners.

First-time buyers, retirees and population growth will continue to fuel the demand for condos in major Canadian cities over the next few years, according to a new report released by Genworth Financial Mortgage Insurance Company Canada (Genworth Canada). 
 
Genworth Canada's Summer 2012 Metropolitan Condo Outlook notes that while rising prices for single-detached homes are increasingly driving first-time buyers toward condominiums, retirees aged 55 or more are also drawn to condo living and continue to be pervasive condominium buyers. The report states that

Population density increases in Quebec, the size of land tends to decrease in the cities and houses are getting closer to the boundaries separating the grounds. The right of ownership of a building gives the right to use it, enjoy and dispose freely and fully of it. This right of ownership is regulated however, and sometimes suffers from some exceptions in order not to affect the rights and privacy of the neighbours. Thus, we cannot construct as many windows as we would want if the house is close to the line separating you from the neighbours.

According to the Québec real estate brokers’ provincial database, sales in the Montréal Census Metropolitan Area (CMA) increased by 3 per cent in July 2012 compared to July 2011, with 2,643 transactions, said the Greater Montréal Real Estate Board (GMREB). In terms of sales by property category, single-family homes stood out with a 6 per cent increase in the number of properties sold.

“Sales of single-family homes posted a sixth consecutive monthly increase, outperforming condominiums for five straight months

As it sometimes happens in apartment buildings, a tenant who occupies a condo unit under a lease may live in unclean conditions because of his lifestyle: accumulation of domestic garbage in the unit, failure to keep it clean to the point that the odours become offensive to the neighbours, infestation of vermin. What can be done?

It should first of all be understood that the co-owner who chooses to rent his unit by signing a lease with a tenant is still bound by the provisions of the building's declaration of co-ownership, as well as the applicable provisions of the Civil Code of Quebec.