What is an undivided apartment?
In fact, it is an apartment which does not have its own cadastral lot and which is located in a building owned by different co-owners. As a result, the co-owners own a percentage of the whole building although each co-owner has the exclusive right of an apartment (i.e. undivided condo) and such co-owner is entitled to sell or mortgage its own apartment without having to obtain the other co-owners’ consent. In order to convert and sell such a property into undivided apartments, an experienced and qualified (by the lender) notary is required (i) to comply with the applicable legislation; and (ii) to draft an undivided co-ownership agreement which will define the rights and obligations of each co-owner, their shares, the co-ownership rules, contributions, etc.
Being qualified by the Federation des Caisses Desjardins, Steve Samson notary is duly authorized by the different Caisse to handle the conversion of properties into undivided co-ownership. As a result of such pre-qualification and in-depth expertise in such area, our firm has converted over one hundred buildings into undivided apartments (also known as ‘’undivided condos’’ – although such an expression is not appropriate from a semantics point of view, we are using it in this text). Steve Samson notary in Montreal is recognized by financial institutions, real estate brokers and many landlords for drafting very detailed undivided co-ownership agreements (also known as indivision agreements) which take into account the very specific distinctive features of a building and also, the special needs of the future undivided co-owners.
Always very available, Steve takes all the time required to explain to any potential buyers contacting him what are the different implications and benefits of buying an undivided condo. As a result, such potential buyers feel at ease and usually do make an offer on one of the different undivided apartments on sale through Steve.
Please click here for a list of recent buildings converted into undivided co-ownership by Steve Samson notary expert in undivided condos.
Declaration of divided co-ownership
Steve Samson notary assists many real estate developers with the sale of their brand new condos as well as many undivided co-owners wishing to convert their building held in undivided into a divided regime.
Whether it is for (i) a brand new construction; (ii) an existing immoveable having received a derogation from the Arrondissement; (iii) an immoveable being occupied by owners since a certain number of years; or (iv) for an immoveable held in undivided co-ownership, Steve Samson notary enjoys helping his clients with the different steps necessary to convert a building into condos: reviewing the application to be filed with the Regie du lodgement (if applicable), supervising the obtention of new cadastral lots by the recommended experienced land surveyor, drafting the declaration of co-ownership, creating and registering the syndicate of co-ownership, discharge from the undivided co-owners (if applicable), etc.
Please click here for a list of buildings having recently converted into condos by Steve Samson notary in Montreal, expert in co-ownership.