What questions any purchaser of divided co-ownership should address to the syndicate before signing his purchase contract?

Before signing a sale contract, any purchaser of a divided co-ownership should ask the following questions to the syndicate of co-owners:

- What is the amount of monthly common expenses related to the private portion sold?

- What is the date on which the last common expenses have been paid and what is the period covered by this payment?

- Are there unpaid arrears for common expenses affecting the fractions which are the subject of the sale?

- These arrears, if any, does it carry interest and at what rate?

- Are there contributions which have been voted and are not yet payable or are such contributions to be expected?

- What is the amount accumulated in the contingency fund?

- Does the ongoing fiscal year foreshadow an operating deficit for the current year?

- Is a surplus for the same period to be expected?

- Have you been aware of a contentious proceeding, mediation or arbitration actually pending, or about to be instituted, against the syndicate, or by the latter, against a third party or a co-owner? If so, you will have to provide some explanations.

- Was a judgment rendered against the syndicate? If such was the case, you will have to indicate the time when the cause of action arose, the amount of money due by virtue of this judgment and if this one was paid.

- What is the nature of the insurance against usual risks taken out by the syndicate?

- Have the insurance premiums been the subject of a special contribution?

- Are there insurance proceeds payable to the party who is the subject of the sale?

- Has the insurance trustee been appointed? If yes, you will have to provide his coordinates.

- Has the syndicate of co-owners been duly registered? If yes, you will have to indicate under which name or provide him with a copy of the declaration of registration.

- What are the common portions for restricted use off which the seller benefits (parking spaces, storage lockers, etc.)? You will have to indicate the numbers of parking and storage lockers, if necessary.

- Does the owner of the fraction which is the subject of the sale have to pay to the co-ownership additional expenses for a common portion for restricted use of which he is the user?

- To your knowledge, has the seller made works in his private portion which affect the common portions?

- To your knowledge, has the seller taken some actions in contravention of the declaration of co-ownership, which actions could have an impact for a purchaser?

- To your knowledge, is there a factor related to the immovable property, susceptive, in a significant way, to decrease its value or increase the expenses thereupon?

- Are there by-laws adopted and recorded in the registers of co-ownership which do not appear in the declaration of co-ownership?

- At what date was held the last general meeting of co-owners?

- You will also have to indicate the extraordinary decisions which had been made or which must be made by the meeting of co-owners. If your co-ownership is prior to 1994, is there in your co-ownership, persons who have, on a fraction, periodic and successive rights of enjoyment (time-sharing)?