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Work affecting an important portion of the immovable and requiring an exceptional expense, such as those related to beams and load bearing walls, the replacement of the roof, to supporting walls, the heating, electrical, plumbing or electronic systems. The cost of such work may be paid from the amounts deposited in the contingency fund.
12/05/2025
A judgment rendered on April 17, 2025, by the Court of Québec in the case Syndicat des copropriétaires du Château Nasso c. Setareh (2025 QCCQ 1286) strongly reaffirms the legal obligations incumbent upon co-ownership syndicates regarding the maintenance and repair of both common and private portions. This decision is part of…...
05/04/2025
As part of the management of our co-ownership, several reports were commissioned by the board of directors: reports on the condition of the facades, the indoor parking, the balconies, as well as for the preparation of the maintenance log and the study of the contingency fund. Some co-owners are wondering…...
16/03/2025
As directors, we are questioning the allocation of common expenses, particularly those related to the common portions designated for exclusive use. One specific case has caught our attention: a wooden rooftop terrace that is for the exclusive use of a co-owner. The declaration of co-ownership states that this co-owner must…...
23/02/2025
The contingency fund study for our residential tower, conducted three years ago, reveals insufficient annual co-owner contributions. These do not fully cover the building’s deterioration or fund major repairs and common area replacements. By December 31, the fund will be $100,000 short of the recommended amount. While gradually increasing contributions…...
15/12/2024
As the president of a horizontal co-ownership, I have noticed confusion among co-owners. They believe that the contingency fund can cover work on private portions, such as roofs, windows, or exterior cladding. However, under the Civil Code of Québec, this fund must be used exclusively for common portions. Question :…...
18/11/2024
A study of the contingency fund was recently conducted by a professional. This analysis highlighted two possible scenarios: 1. Scenario 1 (status quo): This scenario, which is not recommended by the professional, would maintain the current contributions but would result in a deficit within approximately fifteen years, requiring the use…...
04/11/2024
Three months ago, we were invited to the annual meeting of co-owners. During this meeting, the co-owners were consulted on the forecast annual budget. However, since then, we have not received any notice from the board of directors detailing the exact amount of our contribution to the operating budget of…...
01/10/2024
Recently, I was confronted with a situation that raises important questions regarding insurance in divided co-ownership. After a loss caused by torrential rains, a co-owner refused to allow the contractor designated by the insurer to intervene in their private portion, preferring to hire their own contractor. This case led me…...
27/06/2024
Co-ownership work is of the utmost importance. Yet, they are more often than not overlooked by the syndicates of co-owners. Work that needs to be done in common portions can be minor or major in scope. Yet one needs money to pay for them. Good financial planning is therefore advisable…...
25/06/2024
With the entry into effect of the Civil Code of Québec in 1994, the legislator introduced the obligation for every syndicate of co-owners to have a contingency fund in order to anticipate and to finance the future expenses to repair and to replace the common portions; this fund is strictly reserved…...
16/06/2024
The new provisions introduced by Bill 16 will bring about many changes regarding the contingency fund in a co-ownership. It will be mandatory to obtain a contingency fund study, which will establish the necessary amounts so that the fund is sufficient to cover the estimated cost of major repairs and…...
16/06/2024
Article 1071 of the Civil Code of Québec states :" The syndicate establishes, according to the estimated cost of major repairs and the cost of replacement of common portions, a contingency fund to be used exclusively for such repairs and replacement. The fund must be partly liquid and be available at short notice, and…...
16/06/2024
As beautiful as it may be, a new co-ownership will age and eventually require major repairs. In Quebec, however, about half of the syndicates of co-owners do not have any management tools to adequately fund the contingency fund. This issue, which can sometimes have financially disastrous consequences for certain co-owners,…...
16/06/2024
The contingency fund constitutes first and foremost a prevention tool. The desire to incite co-owners to anticipate the completion of important work is not news. Prior to the entry into effect of the Civil Code of Québec in 1994, it was a frequent occurrence for a co-ownership (condominium) to have…...
17/04/2024
The contingency fund is set up on the basis of forward planning limited to certain work namely that which the purpose is the preservation of the common portions; thus, this collective saving allows to finance the execution of work allowing the rehabilitation of the common portions as well as the common portions for restricted use. The contingency fund must…...
01/01/2024
Dans cette capsule vidéo, l’avocat émérite Yves Joli-Coeur explique le concept du Fonds de prévoyance. Il rappelle qu’avec l’entrée en vigueur du Code civil du Québec, en 1994, le législateur québécois a introduit l’obligation, pour tout syndicat de copropriétaires, de se doter d’un « fonds de prévoyance ». Ce fonds…...