How the relative value of each fraction is calculated?

The relative value of each fraction of the divided co-ownership is established with reference to the value of all the fractions together, taking into account the nature, destination, dimensions and location of the private portion of each fraction, but not its use.

The relative value of a private portion is determined by assigning a weighting to each of the four criteria mentioned above. Depending on the specific characteristics of the building and the private portion, the weighting of each of these criteria may be zero or, on the contrary, a determining factor in the establishment of the relative value. It should be noted that the leasehold improvements that a co-owner subsequently makes to his or her private portion do not affect the relative value.

More specifically, the four criteria used to establish the relative value of a private portion are as follows:

(a) Nature: refers to the physical condition of the private portion, the quality of the construction, the materials used and the soundproofing, the presence of accessories and extras such as a balcony. For example, in the case where the same co-ownership would include both a classified heritage building and a new building, it may be justified to assign a higher relative value to the private portions located in the classified heritage building;

(b) Destination: refers to the intended use of the private unit, for example residential or commercial. This criterion must be distinguished from the specific use made by the co-owner of its private portion. For example, a commercial space used as a jewelry store will not have a relative value greater than another commercial space used as a bookstore on grounds that a jewelry store generates a higher turnover than a bookstore;  

(c) Dimensions: refers to the surface area and volume of the private portion. It is an objective criterion: the more a private portion is larger than the other private portions, more its relative value increases;

(d) Location: refers to the physical position of the private unit in the building, its altitude, the amount of sunlight and type of view it is exposed to, the proximity to the building's amenities such as the elevator. Thus, the better a privative portion is located in the building with respect to the other private portions, more its relative value increases.

The relative value of a private portion held by a co-owner is equal to the share of undivided ownership held by such co-owner in the common portions of the building. Thus, the amount of the common expenses that the co-owner will have to pay will be calculated in proportion to the relative value of his or her private portion.

Furthermore, the number of votes held by a co-owner at the meeting of co-owners will also be proportionate to the relative value of his or her private portion.

It should be noted that the law prohibits the syndicate of co-owners from changing the relative value of a private portion without the prior consent of the co-owner concerned.

Finally, it should also be noted that the law enables a co-owner to apply Court for the review of the relative value of his or her private portion within five years of the registration of the declaration of co-ownership in the land register, if the co-owner considers that the relative value allocated to his or her private portion is unfair and causes harm to the latter.