Management of the syndicate of co-owners

Board of Directors

The board of directors manages the syndicate’s business. Based on the declaration of co-ownership, it normally has all the powers needed to manage and administer the syndicate. It is comprised of directors appointed by the co-owners. The number of directors, the method of election or appointment of the directors, and board meeting procedures can be found in the by-laws of the immovable.

Decisions taken at meetings of the board of directors must be recorded in minutes, which must be sent to co-owners within 30 days. The minutes must be filed in the register of co-ownership by the board of directors.

Meeting of co-owners

The co-owners or their representatives meet from time to time to discuss and vote on important decisions. This is done in the course of meetings of co-owners, which represent the foremost democratic body within the co-ownership. These meetings must be conducted in accordance with the rules set out in the by-laws of the immovable.

Decisions taken at meetings of co-owners must be recorded in minutes, which must be sent to co-owners within 30 days. The minutes must be filed in the register of co-ownership.                                                                                 

Minutes

The minutes are written records of the deliberations and decisions of the meeting of co-owners, as well as of the result of each vote so that any co-owner or director can refer to them in due course.

Any person proposing to acquire a share of an immovable held in divided co-ownership should review the minutes of the meetings of co-owners and of the meetings of the board of directors. Therein the prospective buyer will find a lot of useful information, such as:

• any special assessments to be paid;
• any planned renovations;
• additions or changes to the by-laws;
• the condition of the immovable;
• any conflicts between co-owners.

Source: condolegal.com — Minutes of the general meeting