Sirkin Tic Agreement

It turns out that about 95% of ICT groups get along well and never need to use their ICT agreement. The other 5%, the “problem groups”, depend heavily on their contract. A common feature of these problem groups is a member who is not particularly attentive and regularly extends or bends the rules. Victims of this behaviour often complain about the burden of imposing the rules against the bad actor; They wonder why they should bear the costs of appointing a lawyer and opening a costly dispute resolution procedure, when the ruthless and disrespectful landlord has to sit back and wait for the consequences and then start the trial with a new offence. For better or worse, this is not a good quality treaty. An impartial judge or arbitrator must be available to resolve disputes and, where appropriate, bring the power of the state to impose consistent conduct. But we felt that several changes to the ICT agreements could shift the burden of applying from the good guys to the bad guys. This summary contains only a handful of the many changes made under the next-generation ICT agreement, all of which aim to make the agreement more readable, understandable, faster and less costly. The changes reflect the experience gained from creating thousands of ICT agreements, listening to thousands of other individual stories of ICT owners and their brokers, and conducting hundreds of mediations. But while we have taken a big step forward in improving the ICT Treaties, we recognise that the coming weeks and years will show the need for further improvements and that the development of the ICT agreement will continue. While TIC owners typically strive to turn their property into condos as soon as they are qualified, there have been more and more incidents where a homeowner tries to delay conversion for financial reasons. While this type of delay is contrary to the provisions of most ICT agreements, owners trying to move the transformation process forward have complained about the difficulty of implementing these provisions. Our next-generation ICT agreements allow each owner to move the conversion process forward, even if another owner or owner tries to delay it, and provide an individual owner with the tools to take all the necessary steps, without mandating a lawyer or resorting to mediation or arbitration.

Recognizing that a broken/forced sale procedure can have a negative impact on the building`s qualification for renovation, these instruments include the ability to collect assessments for transformation costs and safely lend money to those costs, and then launch a forced sale immediately after the renovation. Material damage to ICT buildings and condominiums has always raised complex issues, especially when an incident in an apartment (e.g. B a pipe leak) causes damage to another or a failure in the Community area (e.g. .B. a roof leak) causes damage in one or more units. . . .

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