Gascon is proud to represent a major North American insurance company in the implementation of its Quebec guarantees in accordance with the provisions of Bill 16. This law, which came into force on January 10, 2020, is an overhaul of the laws governing divided co-ownership in Quebec, and introduces a system for protecting down payments made to a builder or developer for the purchase of a fraction of a divided co-ownership, notably through insurance or a guarantee plan.

Under the supervision of partner Audrey Robitaille, Gascon advised this insurer on the implications of these new legislative obligations and on the required adaptations to the insurer’s coverage, in addition to preparing all the legal documentation and contractual models.

As part of this ongoing mandate, Gascon’s team is also working on setting up guarantees in favor of this insurer to grant this deposit guarantee to residential projects by Quebec promoters.