Definition : Special assessment

Special contribution to common expenses required to all co-owners by the syndicate of co-owners to pay expenses that were not provided for in the co-ownership’s annual budget forecast. This type of request for funds is often related to the execution of work, by the syndicate when it is not possible to use the contingency fund by reason of  the nature of the work, or because of a contingency fund insufficiency. Section 1072.1 of the Civil Code of Quebec stipulates that board of directors shall consult the meeting of the co-owners before deciding on any special contribution to the common expenses.

WARNING!​ Sellers have already been ordered by the courts to reimburse their purchaser for special assessments as damages.

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