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Whether you are a real estate developer (for a new building) or several owners of an existing building who wish to convert it, the rules for subjecting a building to divided co-ownership are the same. The creation of a divided co-ownership is necessary when an immovable must be divided into lots composed of a private portion and a share of the common portions, and which belong to one or more different persons. The community of co-owners acquires…...
The divided co-ownership of a building is not necessarily intended to last for eternity. The end of the co-ownership, and therefore the dissolution and liquidation of the syndicate, is justifiable, for various reasons. The dissolution of a co-ownership leads to a liquidation process. This process is regulated by articles 1108 and 1109 of the Civil Code of Québec, which refer to the rules applicable to legal persons concerning their liquidation.The question of putting an end to your co-ownership may one day arise. There are…...
When it comes time to acquire a home, many buyers turn to the acquisition of a multi-unit building (such as a duplex, triplex, quadruplex, etc.). The direct conversion of rental units to divided co-ownership is prohibited in some cities, with a few exceptions, which is why owners first turn them into undivided co-ownership. It should be noted that a building, whose dwellings are all occupied by undivided owners,can be converted into divided co-ownership, subject to…...
The declaration of co-ownership is an agreement that organizes and regulates the collective life of the of the co-owners and occupants of the building. This agreement defines their rights and obligations. As it is an authentic act, it must be received by a notary. The declaration of co-ownership is often signed by the developer who acts as sole proprietor, or sometimes, by undivided co-owners who wish to subject their immovable (held in co-ownership) to the…...
The destination of the immovable, of the private portions and of the common portions is a fundamental concept in co-ownerships. It is both a real regulator of the rights and obligations of co-owners and a reference value between the permit and the prohibited. The destination of the building is determined in the 1st part of the declaration of co-ownership (constituting act of co-ownership). It is it that also makes it possible to establish the type of co-ownership established and defines…...
Divided co-ownership is a housing formula that usually has more than one owner. In order to assess and quantify the interest of each person in the building, the legislator has provided that the right of ownership of each owner in the common portions is proportional to the relative value of his fraction. To determine the relative value of a unit, it must be compared with the value of all the other units of the co-ownership. The…...
The syndicate of co-owners, as a legal person, has juridical personality, which allows it to contract with third parties, hire employees, hold and dispose of property or exercise legal remedies to protect its assets and ensure the defense of the collective interests of the co-owners.He plays a crucial role in a co-ownership, as it is its legal representative. A legal person constituted of all the co-owners (the collectivity of the co-owner) and governed…...
Article 1083 of the Civil Code of Quebec allows syndicates of co-owners to regroup within an association. More of an incentive than a creator of rights, this article aims to encourage syndicates to come together to share, in particular, the cost of certain common services. The latter can thus pool resources for the maintenance and conservation of their immovable. By seeking strength in numbers, the united syndicates of co-owners can devise effective strategies to better cope…...
The board of directors is one of the two decision-making bodies of the syndicate of co-owners. It is a mandatory decision-making body for any syndicate of co-owners. Composed of one or more directors, it is the cornerstone of any well-managed co-ownership. In principle, it is the board of directors as a group that makes the decisions and not the directors individually. Its mission is to administer and ensure the preservation of the immovable. Its operation…...
The syndicate of co-owners, as a legal person, has a juridical personality. It acts through two decision-making bodies, the meeting of the co-owners and the board of directors. The directors are natural persons who make up the board of directors of the syndicate of co-owners, of which they are also the mandataries. In principle, it is the board of directors as a group that makes the decisions and not the directors individually. The latter are appointed or elected…...