Changing Owner

To change co-owners when selling a unit:

• Go to the Units tab in the left menu bar.
• Click on the unit you want to modify.
• Click on Modify.
• Click on Change co-owner.
• Confirm that you want to change co-owners.
• Complete the information relating to the change.
• Click on Save.

Settings

Date of Sale

You must indicate the date of sale of the unit. This date is important because it determines how condo fees will be allocated between the old and new owner: Transactions dated before the sale date remain associated with the old owner Transactions dated after the sale date are associated with the new owner This allows each owner to be automatically billed for the period during which they owned the unit.

Caution

The Date of Sale is critical for proper fee allocation. All transactions are automatically assigned to owners based on this date. Ensure the date is accurate as it determines which owner is responsible for each charge.

Processing the remaining balance

When the balance of the unit sold is not zero, you can: Keep the balance with the previous owner. If you choose this option, the account of the latter will not be closed and you will still be able to enter transactions into the account. Transfer balance to new owner. If you choose this option, the account of the former owner will have a zero balance, it will be archived and you will no longer be able to enter transactions into the account. To close the account of a former owner of a sold unit, select the unit in question in the archived units section. Then at the bottom of the transactions table, click on "Close unit account".

Caution

Balance Transfer Decision: Choose carefully when handling remaining balances:

• Keep with previous owner: Account remains open for transactions (use if previous owner owes money)
• Transfer to new owner: Previous owner’s account is archived and closed permanently (cannot add transactions later)

This decision affects whether you can still enter transactions for the previous owner after the sale.

Owners

You can select the name(s) of the new owners. The list proposed is that of the owners and tenants registered in the corresponding section. If you can't find the name you are looking for, you must first register it in the Owners and Tenants section.

Note

The new owner selection list shows only people registered in the Owners and Tenants section. If the new owner is not listed, you must add them in that section first before proceeding with the sale.

Condo Fee Allocation

When selling a unit, condo fees are automatically allocated based on the date of sale you indicated:

• Old owner: responsible for all transactions and fees dated before the sale date
• New owner: responsible for all transactions and fees dated from the sale date onward

This automatic allocation makes billing easier and ensures that each owner pays only for the period during which they owned the unit.