Comments on: Undivided Co-ownership: Formalities involved http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/?utm_source=rss&utm_medium=rss&utm_campaign=undivided-co-ownership-formalities-involved A fresh dose of the local market. Three times a week. Wed, 16 May 2012 08:32:42 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: coach outlet http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-4832 coach outlet Tue, 07 Dec 2010 07:52:51 +0000 http://montrealrealestateblog.com/?p=1093#comment-4832 nice post nice post

]]> By: deya http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-4403 deya Fri, 26 Mar 2010 22:30:47 +0000 http://montrealrealestateblog.com/?p=1093#comment-4403 Patrick, I don't think if it wasn't published it will be valid. I can be wrong though. Please contact your notary for these types of questions. Patrick, I don't think if it wasn't published it will be valid. I can be wrong though.
Please contact your notary for these types of questions.

]]> By: Patrick Thomas http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-4373 Patrick Thomas Thu, 04 Mar 2010 21:59:33 +0000 http://montrealrealestateblog.com/?p=1093#comment-4373 If an co-property agreement was never registered but existed for over 2 years is it still valid? Upon sale can a new agreement be drawn up between the new owner and the rest of the co-prop? If an co-property agreement was never registered but existed for over 2 years is it still valid?
Upon sale can a new agreement be drawn up between the new owner and the rest of the co-prop?

]]> By: Deyanira Bautista http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-3903 Deyanira Bautista Thu, 12 Nov 2009 14:49:26 +0000 http://montrealrealestateblog.com/?p=1093#comment-3903 Stephanie, The 20% is the same as the cash down for a mortgage. You give 20% and the bank finances the rest (80%). The money isn't given to the owner but to the notary who will do the transaction. They (the notaries) will coast you through what you have to do and bring to the tables at the signing date. Hope this was helpful. Stephanie,
The 20% is the same as the cash down for a mortgage. You give 20% and the bank finances the rest (80%). The money isn’t given to the owner but to the notary who will do the transaction. They (the notaries) will coast you through what you have to do and bring to the tables at the signing date.
Hope this was helpful.

]]> By: Stephanie http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-3884 Stephanie Wed, 21 Oct 2009 14:54:30 +0000 http://montrealrealestateblog.com/?p=1093#comment-3884 If purchasing a this particular type of condo with the condition of 20% down, how is that paid? Do we give a check to the seller, does that down also count as that against the mortgage? If we take a mortgage from a bank and put their required minimum down, lets say it is less than 20%, now, does the bank give the cash amount to the seller? How does that work when taking a mortgage, is the sale price reduced by the 20%? Thanks. If purchasing a this particular type of condo with the condition of 20% down, how is that paid? Do we give a check to the seller, does that down also count as that against the mortgage? If we take a mortgage from a bank and put their required minimum down, lets say it is less than 20%, now, does the bank give the cash amount to the seller? How does that work when taking a mortgage, is the sale price reduced by the 20%? Thanks.

]]> By: Deya Bautista http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-3357 Deya Bautista Wed, 06 May 2009 14:21:40 +0000 http://montrealrealestateblog.com/?p=1093#comment-3357 Hi Arty, Wow, those are some questions you have! Honestly, I cannot answer some of them because I simply don't know for sure. BUT: The indivision agreement is often done before putting the unit for sale. An association needs to me created, just like a condo. It does not affect the resale value, and as far as I know, the same rule of 20%+ down payment apply to the new buyer. As for the renewal of the agreement, that can be answered by your notary. Hope this helps Hi Arty,
Wow, those are some questions you have! Honestly, I cannot answer some of them because I simply don't know for sure. BUT:
The indivision agreement is often done before putting the unit for sale.
An association needs to me created, just like a condo.
It does not affect the resale value, and as far as I know, the same rule of 20%+ down payment apply to the new buyer.
As for the renewal of the agreement, that can be answered by your notary.
Hope this helps

]]> By: Arty http://montrealrealestateblog.com/undivided-co-ownership-formalities-involved/comment-page-1/#comment-3168 Arty Fri, 24 Apr 2009 02:56:13 +0000 http://montrealrealestateblog.com/?p=1093#comment-3168 Great blog. Keep up the good work. Some questions regarding undivided co-ownership: - What happens when the term of the agreement is up? Is it automatically renewed? Does it have to be renegotiated? - Should an agreement already be drafted and registered BEFORE making an offer to purchase? - Similar to a condo, does an association need to be created and registered for monthly fees to be paid to? - How does an undivided co-ownership arrangement affect resale value? Does the same rule of 20% down payment apply to the new buyer? Thanks! Great blog. Keep up the good work.

Some questions regarding undivided co-ownership:
- What happens when the term of the agreement is up? Is it automatically renewed? Does it have to be renegotiated?
- Should an agreement already be drafted and registered BEFORE making an offer to purchase?
- Similar to a condo, does an association need to be created and registered for monthly fees to be paid to?
- How does an undivided co-ownership arrangement affect resale value? Does the same rule of 20% down payment apply to the new buyer?

Thanks!

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