When a co-owner sells their fraction (e.g., their apartment), they must provide the prospective buyer, in due time, with a certificate attesting to the condition of the immovable held in co-ownership. Prepared by the syndicate of co-owners, this document provides essential information not only about the building itself but also about the management of the co-ownership. This certificate allows the buyer to make an informed decision, promotes transparency, and reduces the risk of disputes. It also encourages syndicates to better maintain their building, since a poorly maintained co-ownership will be more difficult to sell or insure.
In practical terms, the certificate brings together mandatory information, notably on the status of the reserve fund, current insurance coverage, planned work, and ongoing disputes. It therefore serves as a tool of transparency, but also as an effective means of preventing disputes after the transaction.
The law now regulates the content of the certificate, the time limits for its delivery — the syndicate being required to provide it to the seller within 15 days of the request — as well as liability in the event of omission, inaccuracy, or delay. This obligation also raises confidentiality issues, since it requires the disclosure of sensitive data concerning the co-ownership. Finally, the real estate broker plays a key role: he must ensure that the certificate is duly delivered and understood by the parties.
The following sub-sections will examine these topics in a simple, concrete, and accessible manner.
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