Québec has modernized its co-ownership (condominium) rules through two complementary reforms: Article 141 (Bill 141) on insurance and Article 16 (Bill 16) on governance and transparency.
Bill 141 – Syndicates must insure the building’s full reconstruction cost, excluding individual improvements, so major losses can be covered without improvised financing. To keep coverage accurate, a certified appraisal of building value is required every five years. A second safeguard: requires a separate self-insurance fund sized to cover the highest deductible under the syndicate’s policies, ensuring immediate liquidity when claims arise. Each co-owner must also carry civil liability insurance, reducing the risk that personal negligence or accidents leave the community exposed.
Bill 16 – When a promise to purchase is signed, the syndicate must deliver a detailed certificate within 15 days, including financial statements, major works, legal proceedings, and any amendments to the declaration of co-ownership—giving buyers a clear view of upcoming costs and risks. Longer-term stewardship is systematized through a mandatory 25-year maintenance log, updated annually and professionally reviewed at least every five years (every ten years for smaller buildings). Reserve fund studies must be conducted every five years by qualified professionals (CPA, engineer, technologist, or architect).
In concert, these reforms anchor three pillars: financial preparedness, transparent transactions and governance, and disciplined long-term planning. The result is stronger buyer protection, more stable property values, and more accountable condo syndicate management. For specific cases, consult a Québec notary or attorney.
Source: Lucyne Farand with Chat GPT
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