The RIS form: Request for Information to the Syndicate of Co-owners
The RIS form (Request for Information to the Syndicate of Co-Owners) can accompany the Declaration of the Seller. It is an important tool, albeit optional. It helps the seller give potential buyers information about the current state of the property held in co-ownership. For the buyer, having this filled-out form means being able to make an informed decision and to fill out the offer to purchase with confidence. In short, this document allows both parties to carry out the transaction transparently.
The purpose of this document is to give buyers answers to basic questions about a divided-ownership property, including the following:
- The contingency fund
- Common charges
- The self-insurance fund
- General and extraordinary meetings
- Expected or anticipated contributions
- And more
The buyer or the seller can give the RIS form to the syndicate of co-owners to be filled out. Fees may apply.
Resources to help you
If you have any questions about legal documents, don’t hesitate to contact team of notaries!*
You can download the RIS form from My DuProprio.
FAQ
Who pays for the filling out of the RIS form?
There may be fees involved in filling out the RIS form. These are paid by the person requesting the form: the potential buyer or the seller. The buyer can get the document by going through the seller or by asking the Syndicate directly.
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Legal notice
The information given in this page does not constitute a legal opinion and should not be interpreted as such, nor should it be reproduced. The contents are provided for information purposes only. Consulting a notary is recommended to get a legal opinion about a specific case.
*Depending on package selected