Well-Maintained Registers = A Protected Condominium!
In Québec, divided co-ownership is governed by strict laws, notably the Divided Co-ownership Act and the Civil Code of Québec. These regulations require condominium syndicates to keep precise and up-to-date records.
However, many underestimate the importance of property management. Administrative errors, disputes between co-owners, legal sanctions—neglecting record-keeping can have serious consequences. Here’s why maintaining rigorous registers is essential. The consequences of negligent management can be severe. Here’s why keeping accurate records is essential.
Legal Obligation: Why Keeping Your Registers in Order Matters ?
The Divided Co-ownership Act (Article 1070 and beyond) mandates that syndicates maintain records accessible to all co-owners. These include:
- The co-owners’ register (names, contact details, lot shares).
- General meeting minutes (decisions, votes, budgets).
- Financial statements (annual accounts, reserve funds, debts).
- Maintenance contracts (elevators, roofing, common areas).
- Insurance claims and expert reports.
Why is this crucial?
- Transparency: Every co-owner has the right to consult these documents.
- Accountability: In case of a dispute, registers serve as legal proof.
- Avoiding penalties: Failing to maintain records can result in fines for the syndicate.
How to Prevent Co-Ownership Disputes with Proper Registers?
Disagreements in co-ownership often arise from a lack of clarity. For example:
- A co-owner challenges a decision made at a general meeting… but the minutes are incomplete or missing.
- Unauthorized renovations take place, but the work register hasn’t been updated.
Solution :
Detailed and archived registers allow you to:
- Track the history of decisions.
- Justify expenses or restrictions.
- Minimize subjective interpretations.
Financial Registers in co-ownership: Protecting Your Investment
A well-maintained financial register reflects the syndicate’s economic health. In Québec, reserve funds must be carefully managed to cover major repairs (Art. 1071 C.c.Q.).
The consequences of neglect:
- Underestimating financial reserves → Unexpected fee increases.
- Late debt detection → Lawsuits from suppliers or creditors.
- Loss of trust from co-owners → Decreased property values.
Buyers, Audits, Notaries: Why Your Registers Must Be Impeccable
During a real estate transaction, buyers often request access to the condominium registers. Incomplete or disorganized documents can:
- Delay the sale process.
- Deter buyers (concerns over poor management).
- Expose the seller to hidden defect claims.
For example, an outdated certificate of location (mentioning a resolved municipal easement) could invalidate a transaction.
Well-Kept Registers Enhance Property Value
Keeping records is not just an administrative formality—it’s a way to protect both collective and individual assets. In Québec, where aging condominiums require increased vigilance (think infrastructure deterioration risks), meticulous record-keeping is essential.
Need an audit of your registers?
At Deluxco, we offer tailored solutions to help you maintain flawless management.
Contact us today to secure your co-ownership management!
📞 +1 (833) 773-4666
📩 info@deluxco.ca🌐 https://deluxco.ca/