Anyone living in a co-ownership or involved in this unique field in one way or another has likely heard of Bill 16, as well as the reserve fund study and the maintenance logbook that stem from it. However, the syndicate’s certificate on the condition of the co-ownership is a less well-known concept… Stay with us as we explore this mysterious certificate in 10 key questions!

An essential protection tool for anyone looking to purchase a condominium, the certificate on the condition of the co-ownership provides clear and accurate information about the building and its management. When selling a condo, the syndicate is required to provide the seller with this certificate within 15 days of the request, so it can be shared with the prospective buyer.

The syndicate’s certificate on the condition of the co-ownership must include a wide range of information regarding the financial and administrative aspects of the co-ownership, as well as the physical state of the building itself.

To complete this certificate properly and more easily, answer the following questions:

1. What is the current amount available in the reserve fund, and what is the recommended minimum at the beginning of the year according to the study?
2. What is the total amount of common charges required and paid by co-owners over the past three years?
3. What is the amount of available cash to cover current expenses?
4. What annual surplus or deficit appears in the last three financial statements?
5. Does the syndicate hold all mandatory insurance policies, and what is the amount of the self-insurance fund? What is the highest deductible provided for in the policies?
6. Has the syndicate carried out any inspections or expert assessments on the building or its main components over the past five years?
7. Have any claims affected the common areas or the private unit for sale within the past five years?
8. Have major repairs or replacements been carried out on the common areas over the past five years, or are significant works planned within the next ten years?
9. Is the syndicate currently involved in litigation or subject to legal proceedings?
10. Have any amendments been made to the declaration of co-ownership in the past three years?

Unlike the reserve fund study and the maintenance logbook, for which syndicates have three years after the regulation comes into force to obtain and implement, the certificate has been effective since the regulation came into force, on August 14, 2025.

To make it easier for you to complete your own certificate on the condition of the co-ownership, our co-ownership specialists have created an interactive form you can fill out online. Once the document is complete, you can save it as a PDF and share it with all relevant parties, such as the selling co-owner, potential buyers, and involved brokers…