Article 1071 requires the syndicate to establish a contingency fund, liquid and available at short notice, allocated solely to major repairs and the replacement of common portions. The fund is the property of the syndicate.
Bill 16 strengthens this obligation: from August 14, 2028, the amount of the contributions must be based on a contingency fund study, carried out by a professional and renewed every 5 years.
The fund must be held in an account separate from the operating account and may be used for nothing other than major repairs and replacements.
CondoAide tracks the contingency fund's contributions and balance and keeps the study in the register when one exists. The study itself is the work of a professional from a recognized order; CondoAide does not produce it.
Manage your co-ownership with confidence
CondoAide helps self-managed Quebec syndicates keep their register, finances and meetings aligned with the Civil Code.