The Content Of The Article:

The provision of a trustee's certificate is mandatory for any owner who wishes to proceed with the sale of his property in co-ownership, be it an apartment, a cellar, or an attic. What is the trustee certificate? What is it used for? Who should ask? Description of said document.

Purpose of the trustee's certificate

The trustee's certificate is one of the legal documents to provide for the sale of any property in co-ownership, by virtue of the modified article 20 of the Law of July 10th, 1965 fixing the status of the co-ownership of the built buildings, included in the recommendation n° 12 of the CRC (Commission Relative to Co-ownership) concerning the transfer of a lot for consideration.
This certificate, issued by the trustee at the request of the notary in charge of the drafting the authentic act, allows to attest that the co-owner seller is "free from any obligation towards the union", that is to say that it is up to date of its payments, as well concerning the common charges of co-ownership as of the are called for work.
In addition, said document should not be confused with the dated statement which specifies the situation of the account of the co-owner at a time T and which allows the latter to regularize any unpaid if necessary.

Validity of the trustee's certificate

The certificate of the trustee has a validity of one month, reference being the date appearing on said document.
However, it is not unusual for the signature of a deed to be delayed for a few days or weeks, and the certificate may become out of date. In this situation, the notary must inform the syndic of co-ownership of the effective date of the transfer, by registered letter with acknowledgment of receipt, so that he can issue a possible opposition. Without a response from the trustee, the first certificate then remains admissible by the notary.

Consequences of the trustee's certificate

Unknown to the selling co-owners, the trustee's certificate nevertheless has a significant interest.
The trustee is not required to provide the said document if the seller is still liable for certain amounts in respect of the co-ownership, in which case the signature of the authentic deed can not take place. It is therefore essential for the co-owner to be up to date with his regulations.


Video Instruction: Trusts - Part 1 - the Trustee, the Settlor and the Beneficiary - white rabbit trust