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Declaration of Co-Ownership (Déclaration de copropriété)

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Term Definition
Declaration of Co-Ownership (Déclaration de copropriété)
The declaration of co-ownership divides the property into fractions. It includes the act constituting the co-ownership, the by-laws of the immovable and a description of the fractions. The constituting act of co-ownership specifies the relative value of each fraction, indicating how that value was determined. It also determines, as a function of the relative value, the contribution of each fraction to the common expenses of the immovable, the contingency fund established by law and the number of votes attached to each fraction. The constituting act defines the destination or purpose of the immovable, i.e. the use the owners may make of it, as well as the destination of the private and common portions. The act also sets out the powers and duties of the board of directors of the syndicate and the general meeting of co-owners. A detailed by-law stipulates rules on the enjoyment, use and upkeep of the private and common portions. The by-laws also contain rules for the operation and administration of the co-ownership, in particular, the composition of the board of directors and the conditions relating to the office of administrator. The description of the fractions contains the cadastral description of the private portions and the common portions of the immovable. It also contains a description of the real rights affecting or existing in favour of the immovable
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