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The rules for a successful financing
In the case of a promise to purchase concerning an undivided co-ownership, the broker must also indicate the name of the financial institution
The OACIQ unveils its employer brand
Estate Regulators of Canada (RERC), a body that brings together all Canadian regulators in the area of real estate brokerage, building inspection, and co-ownership
The importance for the parties of clearly understanding the promise to purchase
been amended, in accordance with clause 10.3 of the various Promise to purchase forms (or clause 10.5 of the Promise to purchase – Divided co-ownership
OACIQ-FINTRAC cooperation agreement
Regulators of Canada (RERC), an organization that brings together all Canadian regulators in the area of real estate brokerage, building inspection, and co-ownership
Specific cases relating to the history of the immovable
For co-ownership properties
In order to properly inform his client, the licensee will have to review the...syndicate of co-owners’ by-laws....Where appropriate, the licensee must inform any prospective buyer and verify the co-ownership’s incorporation act, by-laws or co-owners’ agreement and
Protected adults
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Promise to purchase – Public Curator
Annex – Divided co-ownership...– Public Curator
Annex – Undivided co-ownership – Public Curator
ownership.
What is the obligation to avoid placing oneself in a conflict of interest?
In this case, the defendant concomitantly had the seller sign a brokerage contract for an undivided co-ownership property, as well as his own
OACIQ launches a conversational agent to answer questions of the public at all times
Regulators of Canada (RERC), an organization that brings together all Canadian regulators in the area of real estate brokerage, building inspection, and co-ownership
Context of use of the form (PP)
section of the guide reviews the provisions of the form Promise to purchase – Chiefly residential immovable containing less than 5 dwellings excluding co-ownership...
The form to be used for the purchase of an immovable held in divided co-ownership is not discussed in this guide....For more information: Professional Practices Guide – Divided co-ownership
What’s a broker authorized by the OACIQ?
If, for instance, you wish to buy a co-ownership property and would like to use the services of a broker who is specialized in this type of property, the
AFTER THE TRANSACTION: The steps after the Promise of purchase
p class="main-guide-page-single-paragraph">When all this is done, you will sign the deed of sale before a notary before moving into your new house or co-ownership
Persons who are married or in a civil union
Since they are co-owners, both spouses must sign the documents.
Who signs the forms?...property of each spouse includes:
immovables acquired before the marriage, such as a house, cottage or co-ownership...be held by both in undivided co-ownership, one-half by each.
Booming housing market: Over 14,000 brokers trained by the OACIQ to better protect the public
Regulators of Canada (RERC), an organization that brings together all Canadian regulators in the area of real estate brokerage, building inspection, and co-ownership
Annex F – Financing
be the following mandatory forms:
Promise to purchase – Chiefly residential immovable containing less than 5 dwellings excluding co-ownership...;
Promise to purchase – Divided co-ownership – Fraction of a chiefly residential immovable held in divided co-ownership; ... Promise to purchase – Undivided co-ownership – Share of a chiefly residential immovable held in undivided co-ownership.
Annex R – Residential immovable
mandatory promise to purchase forms:
Promise to purchase – Chiefly residential immovable containing less than 5 dwellings excluding co-ownership...;
Promise to purchase – Divided co-ownership – Fraction of a chiefly residential immovable held in divided co-ownership; ... Promise to purchase – Undivided co-ownership – Share of a chiefly residential immovable held in undivided co-ownership.
Civil Code of Québec regarding priority orders
For a divided co-ownership, clause D12.2 of the Declarations by the seller of the immovable – Divided co-ownership (DSD) form should be used.
Desired price and terms of purchase (BCP)
.5em;">Scenario A
Total monthly property expenses (capital, interest, taxes, heating and 50% of co-ownership....5em;">Scenario B
Total monthly property expenses (capital, interest, taxes, heating and 50% of co-ownership...the income represents a sort of constant value to which is added a variable based on the price of the immovable, interest rates, amount borrowed and co-ownership
The different types of enterprises and legal persons
">Restrictions to the right of ownership
co-owners, which are also legal persons, are discussed in the Professional Practices...Guide – Divided Co-ownership.
Administrative Housing Tribunal
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Restrictions to the right of ownership
co-ownership
Acting on your own or through a broker: How to make an informed choice
Since some brokers specialize in certain markets (such as co-ownership or commercial real estate), make sure you specify what you are looking for in your
Estates
of an aliquot share of the succession;
ownership or a dismemberment of the right of ownership of the whole or of...property of the succession
Where more than one heir becomes the owner of an immovable, the heirs who have become undivided co-owners...Pierre and Paul, the two sole heirs, become undivided co-owners of the two properties.
Contaminated soil, dry rot, radon, cannabis, etc.: How to protect yourself
declarations-vendeur.pdf">Declarations by the seller of the immovable (in two versions: for an immovable containing less than five dwellings and for divided co-ownership
Your appointment at the notary’s
which he will pay you the balance after deducting such sums as his professional fees, the amount due to discharge the hypothec, and any unpaid taxes or co-ownership
“Residential” or “Commercial” Brokerage: Ethical obligations are the same for all
account who undertakes to act as intermediary for the sale of a part or all of a chiefly residential immovable containing less than five dwellings or a co-ownership
Land Register
;">a) Cadastral description
b) Restrictions to the right of ownership...decontamination
Notice of land use restrictions
Registered lease
Declaration of family residence
Declaration of co-ownership...
The licensee must know and verify the characteristics of the immovable’s right of ownership, along with any restrictions of private
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