Did you know that Article 1068.2 of the Civil Code of Quebec, which came into effect in January 2020, states that anyone wishing to buy a condo has the right to request any document necessary to make an informed decision? But do you know which documents must be provided to a potential buyer? What information do they contain? How should they be interpreted? Is there a deadline for delivering these documents? Stay with us as our condominium specialists answer these questions to the delight of anyone looking to buy a condo!

1. A Maintenance Log Kept Up to Date

The introduction of Bill 16 helped better define the role of condominium syndicates and reinforced their responsibilities. Specifically, the law obliges the syndicate to ensure the maintenance, management, and preservation of the building.

To achieve this, every condominium syndicate must now maintain a logbook that details the building’s condition, the work that has been completed, and the work that is planned. Furthermore, this log should include various maintenance contracts (for elevators, for example), inspection and technical diagnosis reports, current warranties and insurance policies, and, of course, the contact details of all contracted companies.

In addition to aiding decision-making during the syndicate’s general meetings, an up-to-date maintenance log ensures transparency for anyone considering purchasing a condo unit, as required by Bill 16.

2. An Adequately Funded Contingency Fund

The contingency fund for a condominium is a financial reserve intended to anticipate and finance future work on common areas. It helps avoid sudden special assessments and spreads the costs for co-owners. Bill 16 requires that a contingency fund study be carried out every five years to ensure that it is adequately funded.

Thanks to this study, a buyer can assess whether contribution increases are expected, whether work needs to be done, and, most importantly, whether the syndicate has—or will have—the necessary funds to carry out the work without requiring special assessments.

3. Simplified Access to Documents

Bill 16 guarantees simplified access to condominium documents for anyone looking to buy a condo—something that was not always the case before. With this law, a potential buyer can request a wide range of documents related to the management and condition of the building:

• Minutes of co-owners’ meetings
• The maintenance log
• The contingency fund study
• Insurance coverage
• The declaration of co-ownership
• The building regulations
• Any other relevant document

These requirements make the condo purchasing process more structured and reduce the risk of unpleasant surprises after the sale. They allow prospective buyers of a condo unit to benefit from greater transparency regarding the building’s condition and any anticipated renovations.

If you are considering buying a condo, don’t forget that our specialists offer a document analysis service. This provides an accurate picture of the building’s management, upcoming work, and the funds available to carry it out—helping you avoid unpleasant surprises.

As of the publication date of this article,
the regulation resulting from Bill 16
had not yet been adopted.