With the implementation of Bill 141, Quebec’s Civil Code has undergone significant changes in regards to condominium insurance. On April 15, 2021, the amendment to Article 1073, introduced by Bill
Bill 141: Changes to Divided Co-ownership Insurance Obligations in Quebec
If you own a divided co-ownership property in Quebec, it's important to understand the recent amendments to the Civil Code of Québec regarding insurance obligations. The changes require co-owners to take out liability insurance, specify the rules for self-insurance funds, and establish new duties for compensation and claims in the event of property damage. In this article, we'll provide a summary of the key changes and their implications for co-owners and insurance companies.
Bill 141: The Importance of Mandatory Property Evaluations in Co-Ownership
As of April 15, 2021, the Civil Code of Québec has been amended by Bill 141 with respect to divided co-ownership insurance. One of the key measures of this law requires a mandatory evaluation of the property by a certified appraiser every five years.