Co-ownership General Assembly and Management Quiz

Study Notes

The general assembly is the only time when all the co-owners are gathered to take different decisions concerning the functioning of the co-ownership.
The GA decides in particular: of the annual provisional budget, of the necessary works within the co-ownership, deeds of acquisition or sale on behalf of the co-ownership, the underwriting of a group bank loan, the renewal or change of trustee, hiring of condominium staff.
The general assembly is held in a place close to the building, all the co-owners are invited, those absent can delegate their right to vote to a proxy.
There are several types of GA.
Types of General Assembly: ordinary, transitional, urgent, and special.
Who makes up the General Assembly? Each general meeting of a condominium is held by a bureau which is composed as follows: a session chairman, a secretary, scrutineers, and co-owners or representatives.
The co-ownership is a legal entity that owns a building.
The co-ownership has a syndic who is responsible for the management of the co-ownership.
The co-ownership has a general assembly that votes on the budget and makes decisions on the life of the co-ownership.
The co-ownership has a property registry that is updated every year.
Before selling a property, the seller must provide information to the future buyer, which is handled by the syndic.
A dated statement is created at the time of signature before the notary and it balances all the accounts of the seller.

Description

Test your knowledge on the roles and decisions of co-ownership general assemblies, the types of general assemblies, the structure of the bureau, and the management of co-ownership including the responsibilities of the syndic. Also, learn about the legal requirements for property sales in a co-ownership.