The syndicate certificate is a document signed by the board of directors and provided to the selling co-owner. Its existence rests on article 1068.1 of the Civil Code of Québec; its minimum content is set by article 10 of the regulation adopted under decree 991-2025, in force since August 14, 2025.
The regulation lists eight categories of information that must appear at a minimum. The certificate must also be dated and carry the signature of the person authorized to issue it, along with their name and capacity.
1. Contingency fund — balance and study recommendation
The total contingency fund balance as of the certificate date, and the recommendation of the contingency fund study on that date as to the balance that must be available in the fund at the beginning of the current year.
If the study has not yet been produced (full deadline of August 14, 2028 for existing co-ownerships), the certificate must say so explicitly.
2. Common-expense contributions over 3 years
For each of the last 3 years:
- the total amount of contributions required of co-owners by the board,
- the total amount of contributions paid by co-owners.
The gap between the two is a signal of payment discipline within the syndicate.
3. Current liquidity
The total liquidity available to the syndicate to pay current operating expenses of the co-ownership.
4. Annual surplus or deficit — last 3 financial statements
The annual surplus or deficit shown in the last 3 financial statements of the co-ownership. This is the aggregated accounting view of the syndicate's financial health, distinct from the contingency fund balance.
5. Projected budget for the current year
The projected budget adopted for the current year, including amounts for current charges, the contingency fund, and the self-insurance fund.
6. Statement on insurance policies — article 1073 C.C.Q.
A statement that the syndicate holds the insurance policies it must subscribe to under article 1073 of the Civil Code — typically civil liability and property insurance.
7. Self-insurance fund — balance and highest deductible
The total self-insurance fund balance as of the certificate date, and the highest deductible under the syndicate's insurance policies.
The self-insurance fund, required by article 1071.1 of the Civil Code (in force since April 15, 2020), must at least equal this highest deductible. The certificate makes any shortfall visible to the buyer.
8. Summary description — inspections, claims, work, litigation, changes
The regulation requires a summary description of the following:
- a) Inspections and expertises carried out at the syndicate's initiative over the last 5 years that addressed the building's general condition or one of its main components.
- b) Insurance claims / losses affecting, over the last 5 years, the private portion being sold or the building's common portions.
- c) Major repairs and replacements completed on the common portions over the last 5 years, including the date of the work and its cost.
- d) Major repairs and replacements planned on the common portions over the next 10 years, including the estimated date and cost.
- e) Ongoing litigation to which the syndicate is a party and that is the subject of court proceedings.
- f) Amendments made, over the last 3 years, to the declaration of co-ownership.
Signature and identification
The certificate must be dated and carry the signature of the person authorized to issue it, along with their name and capacity (Decree 991-2025, art. 10, last paragraph).
What the certificate need not contain
The regulation sets a minimum. The syndicate may add factual elements useful to the buyer, but the certificate remains a factual document, not a promotional one. It does not include:
- Opinion commentary on the quality of the neighborhood or management,
- Personal information about other co-owners,
- Commercial details about a supplier,
- Speculative assumptions about future market evolution.
Accuracy and liability
Hiding a known fact (litigation, claim, major planned work, material non-compliance) or stating an inaccurate piece of information can engage the liability of the syndicate and of the signing directors. Directors' & Officers' (D&O) insurance generally covers good-faith errors but does not cover knowingly false or incomplete declarations.
The certificate stays neutral and factual. Any interpretation belongs to the buyer, their notary, and their inspector.