Buying a condo also means sharing responsibility for a building. Its documents reveal the rules, financial situation and work that may affect your expenses.
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Key takeaways
- Organize records by topic and date.
- The declaration and regulations govern use, renovations, pets and rentals.
- Minutes, budgets, financial statements, assessments and claims may reveal discussed work or insufficient cash.
Which document answers which question?
Organize records by topic and date. A large file is not necessarily complete: check attachments, amendments and updates.
| Document | Question to ask |
|---|---|
| Declaration and bylaws | Is my intended use allowed: rentals, pets, renovations? |
| Meeting minutes | Which decisions were made and which issues remain open? |
| Budget and financial statements | Do actual expenses match projections? |
| Syndicate certificate | What current picture does it provide and what needs clarification? |
| Maintenance log and fund study | What work is planned and how will it be funded? |
| Insurance | Which coverage and deductibles should my insurer review? |
| Parking and storage | Which rights are actually included in the sale? |
Understand rights and restrictions
The declaration and regulations govern use, renovations, pets and rentals. The location certificate and fraction description also help confirm what is being sold.
Not every rule is necessarily found in one document. Amendments and resolutions deposited in the co-ownership register should also be reviewed.
Connect finances with building needs
Minutes, budgets, financial statements, assessments and claims may reveal discussed work or insufficient cash. Low fees are not reassuring if maintenance is deferred.
The maintenance log plans interventions, while the contingency fund study projects required amounts. Together, they show whether funding matches anticipated needs.
Certificate, maintenance log and study: check availability
When a unit is sold, the syndicate must provide the seller with the certificate on the condition of the co-ownership within 15 days of the request. It does not replace reviewing the other documents.
The maintenance log and initial fund study may still be subject to transitional provisions. Their absence in 2026 alone does not prove non-compliance: ask which provisions apply, whether work has been commissioned and when documents will be available.
Turn your review into useful questions
Record the document, page and passage that raises a question. Seek a documented answer rather than simple reassurance. A general answer does not resolve a contradiction between two records.
- Work : was the project discussed at the meeting completed, postponed or cancelled?
- Budget : what explains a significant variance or unpaid fees?
- Loss event : which repairs and checks followed the reported issue?
- Decision : is the mentioned assessment a possibility or an adopted decision?
Common questions before waiving a condition
Do documents replace an inspection? No. They explain history and management; an inspection examines building condition within its scope. These steps complement each other.
What if a document is missing? Alert your broker before the deadline. Review the applicable clause and options; an extension cannot be assumed.
Does litigation mean I should walk away? Understand its subject and possible consequences with the appropriate professional. The word “litigation” alone does not measure the risk.