The Québec National Assembly has adopted Bill 16
(Act1), which amends various provisions of the Civil
Code of Québec relating to divided co-ownership and
adopts measures to protect deposits paid by buyers of a unit.
This Act, which was assented to on December 11, 2019, will come
into force on January 10, 2020, with some exceptions.
One aspect of the Act that will have a significant impact on
real estate development projects in Québec involves deposits
and can be summarized as follows:
- developers must henceforth protect
the deposits paid for a unit under divided co-ownership; and
- the deposit must be returned to the
promisor if the unit under divided co-ownership is not delivered on
time.
