Co-ownership Trustee: Its Role and Functioning
In France, each co-ownership must be represented by a co-ownership trustee. Its main missions are administrative management and financial management of residences. This syndic is elected for one or three years by the general meeting of co-owners. It is therefore necessary to appoint a trustee who is an expert in his field. SGL accompanies you to understand everything about the syndic of co-ownership and helps you choose the syndic best suited to your expectations.
The mission of the trustee in your building
The syndic of co-ownership is the legal representative of the syndicate of co-owners, of the meeting constituted by all the owners of a lot in a residence. The syndic is mandated to ensure the proper conservation and maintenance of the co-ownership in a good state of use, including the common areas and equipment. To do this, the syndic is required to manage the financial and administrative aspects of the co-ownership.
Regarding the administrative management of the immovable, the syndic must:
- Manage the administrative formalities relating to the day-to-day life of the building (list of co-owners, material safety data sheets, co-ownership regulations, etc.).
- Ensure that the condominium remains in good condition of use; The syndic must consider and manage the smooth running of work if necessary and keep a maintenance log of the building.
- Be the legal representative of the co-ownership.
For the financial management of the building, it is mandatory to keep accounts. Thus, the syndic must:
- Define a provisional budget for the condominium for each fiscal year.
- Present to each general meeting the accounts of the syndicate which must be validated by the co-owners; It is said that the co-owners give discharge.
- Open a bank account whose holder is the syndicate of co-ownership, and which will be used for all expenses and cash inflows relating to the co-ownership; This account is mandatory if the building has 16 or more main lots.
The syndicate council of co-ownership
The syndicate council of co-ownership brings together several co-owners appointed at the general meeting. The mission is initially advisory: the council gives its opinion to the syndic concerning decisions relating to co-ownership. The union council is also driven by a real collaboration with the syndic: preparation of the agenda of the general meeting, validation or invalidation of the work to be carried out, etc.
The union council is mandatory in a co-ownership unless the general meeting of co-owners opposes it. The trade union council is thus elected for a period of three years at the general assembly, by a majority of votes. The rules of the co-ownership determine the rules (number of members and terms of convening meetings).