Co-ownership Syndicate and Trustee Management Quiz

Study Notes

A trustee is a person appointed by the general assembly to manage the co-ownership syndicate.
The trustee has many missions and obligations, including accounting, bookkeeping, real estate management, and insurance.
Co-ownership is the name given to a building or group of buildings containing at least 2 different owners called co-owners.
A lot is composed of two inseparable parts: the private part (apartment, store, cellar, etc) and the common part (corridor, etc).
The private portions of a building are the parts that are reserved for the exclusive use of a specific co-owner.
The common areas of a building are normally usable by all the co-owners unless otherwise decided.
The co-ownership of a building is a legal relationship between a group of people who share in the costs and benefits of owning and living in the same building.
The co-ownership regulations or appendix determines the private and common portions and their use, sets the rules for the operation of the TCS, and describes all the private lots that make up the co-ownership.
The co-ownership syndicate is the management body of the co-ownership, appointed by the general assembly for 1 to 3 years.
The co-ownership syndicate has many missions and obligations, including accounting management, sound bookkeeping, realistic budget preparation, regular management of invoices and payments, annual statement of charges (owner and occupant), preparation of the annual balance sheet, daily follow-up of payments, quick recovery of debts, management of quarterly calls, technical management, regular visits, prompt handling of complaints, follow-up of maintenance contracts, repairs, works, proactive claims management, meter management, regular competition of contracts, follow-up of suppliers and search for the most efficient ones, regular advice, administrative management, management of the AGM from A to Z, follow-up of various correspondences, serious collaboration with the parties during sales (notary, intermediary, broker), proactive follow-up of litigation files, representation of the syndicate of co-owners, regular relations with the union council, knowledge of co-ownership and CPR, underwriting and monitoring of insurance contracts, and civilly liable to the syndicate of co-owners.
The Syndicate of Co-ownership is a legal entity created by the co-ownership agreement to manage the co-ownership property.
The syndicate has the responsibility to convene a new assembly to appoint a new syndic, and to execute decisions taken at this assembly.
The Board of Trustees assists and controls the syndic, and represents the syndicate at meetings.
Any co-owner can be part of the Board, and can vote in general assemblies.
The syndic must meet with Board members to make decisions for the co-ownership.

Description

Test your knowledge about the roles and responsibilities of trustees, co-ownership syndicates, and the management of co-ownership properties in real estate. Explore the legal relationships and obligations within a co-ownership building.