{"id":62910,"date":"2024-10-09T16:42:00","date_gmt":"2024-10-09T16:42:00","guid":{"rendered":"https:\/\/yanicksarrazin.com\/?p=62910"},"modified":"2024-10-09T20:43:55","modified_gmt":"2024-10-09T20:43:55","slug":"provident-fund-maintenance-booklet-and-inspector-certification-for-the-real-estate-sector-bill-16","status":"publish","type":"post","link":"https:\/\/yanicksarrazin.com\/en\/immobilier\/news\/provident-fund-maintenance-booklet-and-inspector-certification-for-the-real-estate-sector-bill-16\/","title":{"rendered":"Provident Fund, Maintenance Booklet and Inspector Certification for the Real Estate Sector: Bill 16"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"62910\" class=\"elementor elementor-62910 elementor-62760\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7cf0169 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7cf0169\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-228db75 stretch-to-none\" data-id=\"228db75\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f781a55 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"f781a55\" data-element_type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;marker_view&quot;:&quot;numbers&quot;,&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable des mati\u00e8res\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__f781a55\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__f781a55\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__f781a55\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0431918 elementor-widget elementor-widget-spacer\" data-id=\"0431918\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a6d2b8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8a6d2b8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-afbc2c0 stretch-to-none\" data-id=\"afbc2c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8351054 elementor-widget elementor-widget-text-editor\" data-id=\"8351054\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">On December 5, 2019, the provincial government adopted a major reform of the R\u00e9gie du logement, marked by Bill 16. This initiative aims to regulate several aspects of the real estate sector, including building and divided co-ownership inspections, while revising the name and amending the Act respecting the R\u00e9gie du logement and the Act respecting the Soci\u00e9t\u00e9 d&#8217;habitation du Qu\u00e9bec. It also makes changes to various legislative provisions relating to municipal affairs. The main objective of these reforms is to strengthen the protection of home buyers, co-owners, tenants and landlords. Although the bill was passed in December 2019, its implementation is spread over a three-year period, allowing for a gradual roll-out of the various regulatory measures.<\/span><\/p><p><span style=\"font-weight: 400;\">In this article, our Montreal real estate brokers present the new measures underway and those to come. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-60b7644 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"60b7644\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6c394a5 stretch-to-none\" data-id=\"6c394a5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-782ab8b elementor-widget elementor-widget-heading\" data-id=\"782ab8b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Future Measures<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02a32eb elementor-widget elementor-widget-spacer\" data-id=\"02a32eb\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ed1c60 elementor-widget elementor-widget-heading\" data-id=\"0ed1c60\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Real estate regulations governing contingency funds<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-607fc76 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"607fc76\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-30918ca stretch-to-none\" data-id=\"30918ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bf6f084 elementor-widget elementor-widget-spacer\" data-id=\"bf6f084\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab74e3f elementor-widget elementor-widget-text-editor\" data-id=\"ab74e3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">According to a survey conducted in 2015 by the Regroupement des gestionnaires et copropri\u00e9taires du Qu\u00e9bec, the Association des professionnels de la construction et de l&#8217;habitation du Qu\u00e9bec, and the F\u00e9d\u00e9ration des chambres immobili\u00e8res du Qu\u00e9bec, it appears that the majority of condominium administrators feel that the amount available in the contingency fund is insufficient. To remedy this situation, a new real estate regulation will require boards of directors to conduct a study every five years to assess the sums to be allocated to the <a href=\"https:\/\/www.journaldemontreal.com\/2024\/09\/19\/condos-pas-de-fonds-de-prevoyance-pas-dhypotheque\">contingency fund<\/a>. Annual contributions to the fund will be based on the results of this study. The analysis must be produced by an accountant, engineer, chartered appraiser, architect or professional technologist.<\/span><\/p><p><span style=\"font-weight: 400;\">This study will be mandatory from the first day following the first 3 years of the new standard&#8217;s implementation. In fact, the two main mortgage lenders, National Bank and Desjardins, recently announced that they will no longer finance buyers of divided co-ownerships without a contingency fund.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6cdf2c9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6cdf2c9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8026fab stretch-to-none\" data-id=\"8026fab\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dab9086 elementor-widget elementor-widget-heading\" data-id=\"dab9086\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Condominiums required to keep a maintenance logbook<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-95741e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"95741e6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c56bf20 stretch-to-none\" data-id=\"c56bf20\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-20b1a2e elementor-widget elementor-widget-text-editor\" data-id=\"20b1a2e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In Canada, there are currently no regulations requiring condominium boards of directors to keep a maintenance logbook. However, Bill 16, proposed by the provincial government, aims to impose this obligation on boards of directors. The building&#8217;s maintenance book will have to be updated every five years (or 10 years for buildings with 8 condos or less). The logbook must identify major maintenance work on the building&#8217;s common areas, the dates on which it was carried out, and the inspections performed. This information must be updated annually. The maintenance book must be produced by a professional such as an engineer, chartered appraiser, architect or professional technologist. In addition, syndicates of co-ownership will be required to maintain an up-to-date property condition certificate, and to provide a copy to any co-owner who requests it. These new regulations should come into force by the end of the year.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-46855d4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"46855d4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e6bd5f stretch-to-none\" data-id=\"9e6bd5f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-276a01f elementor-widget elementor-widget-heading\" data-id=\"276a01f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Creation of a public directory of home inspector certificate holders <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ab38697 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ab38697\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc10214 stretch-to-none\" data-id=\"cc10214\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2dfb909 elementor-widget elementor-widget-spacer\" data-id=\"2dfb909\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e824031 elementor-widget elementor-widget-text-editor\" data-id=\"e824031\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">At the moment, the profession of <a href=\"https:\/\/yanicksarrazin.com\/en\/immobilier\/buyer-information\/how-to-choose-your-home-inspector\/\">home inspector<\/a> is not governed by any specific regulations. No training or license is required to exercise this profession. However, the new reform underway will introduce a new certificate for building inspectors, to be issued by the R\u00e9gie du b\u00e2timent du Qu\u00e9bec. A public register will also be set up to identify holders of this certification. This initiative is designed to boost buyer confidence by giving them access to qualified building inspection professionals.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6d6813d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6d6813d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ef1ba9c stretch-to-none\" data-id=\"ef1ba9c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d72630a elementor-widget elementor-widget-heading\" data-id=\"d72630a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Measures in progress<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdf124f elementor-widget elementor-widget-spacer\" data-id=\"cdf124f\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0e47084 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0e47084\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b0dbfa stretch-to-none\" data-id=\"2b0dbfa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-196e6e7 elementor-widget elementor-widget-heading\" data-id=\"196e6e7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Creating certificates of location<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09972a5 elementor-widget elementor-widget-text-editor\" data-id=\"09972a5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">This new bill requires real estate developers to provide syndicates of divided co-ownership with certificates of location, as well as all available plans and specifications.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d17c5ae elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d17c5ae\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8daa289 stretch-to-none\" data-id=\"8daa289\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e63cee elementor-widget elementor-widget-heading\" data-id=\"2e63cee\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Protecting buyers' deposits<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-03d27b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03d27b9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d9bb3c9 stretch-to-none\" data-id=\"d9bb3c9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4dec3f2 elementor-widget elementor-widget-text-editor\" data-id=\"4dec3f2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Builders and developers must protect deposits paid by purchasers of fractional co-ownership. This obligation applies to preliminary contracts signed on or after January 10, 2020.\u00a0 Down payments requiring protection may be secured by a guarantee plan, insurance or a surety bond. Moreover, if a unit has not been delivered by the due date, developers and builders will be required to return the deposit to residential buyers. The date may refer to a specific date or to a period extending over several months (for example, autumn 2024). On the other hand, a clause in a preliminary contract could provide for the possibility of this date being changed due to unforeseen circumstances, if all parties agree.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a6d2c46 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a6d2c46\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c98b18 stretch-to-none\" data-id=\"2c98b18\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-320c257 elementor-widget elementor-widget-heading\" data-id=\"320c257\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Governance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0cc0cca elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0cc0cca\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a88c73b stretch-to-none\" data-id=\"a88c73b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e290b9 elementor-widget elementor-widget-text-editor\" data-id=\"6e290b9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Boards of directors must inform co-owners of their decisions within a reasonable period of 30 days. In addition, board members will have to consult the general meeting of co-owners before setting a special assessment or hypothecating the syndicate&#8217;s claims. In the event of disagreement, the court may set aside decisions made by the board of directors.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cda90a4 elementor-widget elementor-widget-text-editor\" data-id=\"cda90a4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We invite you to keep abreast of the new measures introduced by the provincial government. These provisions are designed to strengthen the protection of home buyers, co-owners, tenants and landlords. Contact our real estate brokers today to learn more about Bill 16.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-414e57c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"414e57c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-55b8ac4 stretch-to-none\" data-id=\"55b8ac4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-473d2ca elementor-widget elementor-widget-text-editor\" data-id=\"473d2ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>Sources :\u00a0<\/b><\/p><p><span style=\"font-weight: 400;\">Condos: No Contingency Fund, No Mortgage. <\/span><a href=\"https:\/\/www.journaldemontreal.com\/2024\/09\/19\/condos-pas-de-fonds-de-prevoyance-pas-dhypotheque\"><span style=\"font-weight: 400;\">https:\/\/www.journaldemontreal.com\/2024\/09\/19\/condos-pas-de-fonds-de-prevoyance-pas-dhypotheque<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Divided and Undivided Co-ownership: How to Differentiate them? <\/span><a href=\"https:\/\/yanicksarrazin.com\/en\/immobilier\/buyer-information\/divided-and-undivided-co-ownership-how-to-differentiate-them\/\"><span style=\"font-weight: 400;\">https:\/\/yanicksarrazin.com\/immobilier\/information-immobiliere\/copropriete-divise-et-indivise-comment-les-differencier\/<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/p><p><b><span style=\"font-weight: 400;\">How to choose your Home Inspector?<\/span> <\/b><a href=\"https:\/\/yanicksarrazin.com\/en\/immobilier\/buyer-information\/how-to-choose-your-home-inspector\/\"><span style=\"font-weight: 400;\">https:\/\/yanicksarrazin.com\/immobilier\/information-immobiliere\/comment-choisir-son-inspecteur-en-batiment\/<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/a><\/p><p><span style=\"font-weight: 400;\">Quebec gets tough on Condo Maintenance. https:\/\/www.journaldemontreal.com\/2024\/09\/13\/quebec-se-montre-plus-severe-pour-lentretien-des-condos. <a href=\"https:\/\/www.journaldemontreal.com\/2024\/09\/13\/quebec-se-montre-plus-severe-pour-lentretien-des-condos\">https:\/\/www.journaldemontreal.com\/2024\/09\/13\/quebec-se-montre-plus-severe-pour-lentretien-des-condos<\/a>\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Measures applicable to divided co-ownership (condos) for owners and builders.\u00a0 <\/span><a href=\"https:\/\/www.quebec.ca\/habitation-territoire\/achat-vente\/condos-coproprietes\/mesures-coproprietes\"><span style=\"font-weight: 400;\">https:\/\/www.quebec.ca\/habitation-territoire\/achat-vente\/condos-coproprietes\/mesures-coproprietes<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Modernization of housing legislation. <\/span><a href=\"https:\/\/cdn-contenu.quebec.ca\/cdn-contenu\/adm\/min\/affaires-municipales\/publications\/habitation\/BRO_PL16_DocumentBref.pdf\"><span style=\"font-weight: 400;\">https:\/\/cdn-contenu.quebec.ca\/cdn-contenu\/adm\/min\/affaires-municipales\/publications\/habitation\/BRO_PL16_DocumentBref.pdf<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43c6ee1 elementor-widget elementor-widget-spacer\" data-id=\"43c6ee1\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Table des mati\u00e8res On December 5, 2019, the provincial government adopted a major reform of the R\u00e9gie du logement, marked by Bill 16. This initiative aims to regulate several aspects of the real estate sector, including building and divided co-ownership inspections, while revising the name and amending the Act respecting the R\u00e9gie du logement and [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":62848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[606,462,641],"tags":[802,794,1022,549,18,544,542],"class_list":["post-62910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buyer-information","category-news","category-real-estate-news-buyer-information","tag-buyer-information-montreal","tag-information-acheteur-montreal","tag-montreal-2","tag-montreal-en","tag-real-estate","tag-real-estate-broker-montreal","tag-real-estate-montreal"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Provident Fund, Maintenance Booklet and Inspector Certification for the Real Estate Sector: Bill 16 - Courtier Immobilier Montr\u00e9al Yanick E Sarrazin<\/title>\n<meta name=\"description\" content=\"The provincial government has adopted a major reform of the R\u00e9gie du logement, marked by Bill 16. 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