fbpx Skip to content

Healthy management of insurance indemnities in the event of a major loss

Contact us

Trustee for insurance purposes

In the event of a major loss, the law stipulates that the insurance indemnity must be paid to a trustee to be used for the repair or reconstruction of the building, unless the syndicate decides to terminate the co-ownership.

As with any claim, the Board of Directors must first contact its insurer. When the claim qualifies as a major loss, the Board of Directors must also call a meeting to allow co-owners to decide whether they wish to terminate the co-ownership by the majority provided for by law. In general, this procedure is imposed by the declaration of co-ownership.

Thus, unless the co-owners decide to terminate the co-ownership, the syndicate must proceed with repairs or reconstruction, and grant any contracts to this end. It is then time for the syndicate to retain the services of a trustee, and the notaries of our firm can act in this capacity.

Fiduciaire aux fins d'assurances

When a notary on our team is mandated to act as trustee, he or she prepares and executes an agreement on the terms and conditions applicable to the receipt and disbursement of any insurance proceeds from his or her trust account.

More than that, we :

  • treat cases with the priority they deserve;
  • offer to invest your administered funds so that you can earn interest; and
  •  
  • encourage the use of technological processes to sign documents and pay amounts due.

For more information on our trustee services, or to obtain a detailed service offer, please contact Me Christine Lutfy or Me Louis Dumont. 

Would you like to contact us to discuss our insurance trustee services?

To find out more about De Grandpré Jolicoeur’s insurance trustee services, or to discuss your legal needs with a notary or lawyer, don’t hesitate to contact us.

Contact us
(514) 287-9535

Other condominium-related services that might interest you

Real estate financing

Real estate financing

Legal advice and support in real estate transactions (purchase and/or sale), real estate financing, drafting or negotiating leases and much more.

Learn more

Co-ownership start-up

Co-ownership start-up

All the services related to the start-up of a co-ownership ensuring the sound management of your co-ownership, from the provisional administration to the election of the new board and well beyond.

Learn more

Meeting of co-owners

Meeting of co-owners

Personalized support in the organization, conduct and follow-up of general meetings of co-owners, whether they are held in person or virtually.

Learn more

Declarations of co-ownership

Declarations of co-ownership

A range of solutions entirely dedicated to updating, writing or rewriting and modifying your declarations of co-ownership in order to be fully compliant with applicable policies and laws.

Learn more

Disputes and litigation

Disputes and litigation

Services required in the event of a dispute concerning the administration of the co-ownership, the recovery of unpaid charges, maintenance, repairs, building regulations, etc.

Learn more

Legal assistance and legal opinions

Legal assistance and legal opinions

Legal assistance, advice and opinions for any question encountered by co-owners, managers, service providers, municipalities or any other professional revolving around the co-ownership.

Learn more

Ajoutez votre titre ici

Speedcondo locataires