What does "condominium" mean?

The word condominium means "common property". Living in a condominium requires a different spirit, as there are areas of common use and private areas. The right to use the common area and the obligation to preserve it are basic conditions for life in a condominium. In terms of property, to each private area, correspond a fraction of the common area.

What are the common parts/areas of the building?

• The soil and the foundations, columns, pillars, walls, supporting walls and all the other parts that form the structure of the building.

• The roof or roof coverings, even if intended for use of any fraction.

• The entries, hallways, stairways and corridors of use or passage between two or more owners.

• The instalations for water, electricity, heating, air conditioning, gas, communications and the like.

• The courtyards and gardens attached to the building.

• Lifts.

• The dependencies for the use and habitation of the concierge.

• The garages and other parking places.

• In general, things that are not allocated to the exclusive use of one of the owners.
  
  

What is the definition of Horizontal Property?

One building is in a horizontal property regime when all fractions are separated out, i.e. they are separate, isolated, and independent, with exit to a public road or to a common part of the building.

What is the title of incorporation of the horizontal property?

The title of incorporation of the horizontal property is the document that proves that a building or building complex is in a horizontal property regime. This document is formalized through a public deed.

This document describes the various fractions of the building, and set the value of each fraction expressed as a percentage or per thousand.

What may still contain the title of incorporation?

The title of incorporation may also contain a reference to the purpose for which it is intended each fraction or common part, the building regulation, setting out the use and conservation of either common parts, the fractions and the provision of arbitration for dispute resolution arising from the condominium related issues.  

Who must comply with the title of incorporation of the Condominium?

All apartment owners.

The title of incorporation, can it be changed?

Only through a public deed and subject to the agreement of all owners. They must sign a deed, the administrator may also, on behalf of all owners sign the deed (for this the agreement must be stated in the minutes signed by all).

What is the common reserve fund?

It is a minimum of 10% of current expenses of the Condominium (required by law) to deposit in savings account fees, to deal with future upkeep of the building of an extraordinary nature.

What are the Internal Regulations of the Condominium?

It is the set of rules and procedures concerning the conduct of residents and visitors, regulating the use of common areas and solving a wide variety of condominium problems, including penalties for offenders.

It is mandatory to create Internal Regulations?

Is only mandatory the creation of regulations when the building has more than four owners and if there isn’t already a regulation that is part of the title of incorporation.

Who is responsible for drafting the Internal Regulations?

The Internal Regulations should be drafted by the General Owners' Meeting. If this does not happen, the administrator arrange for it.

The Rules can be updated?

Generally speaking, regulations over time tend to degrade and become obsolete. The condominium can and should promote periodic reviews of this text in order to assure its effectiveness.

Which entities are subject to the rules contained in Regulation?

The property owners, tenants, gratuitous bailees and usufructuaries.

How should the running costs of Condominium be paid?

The running costs of the condominium must be paid by the owners in proportion to the value (per thousand) of their fractions.

What is the method of payment of the expenses?

Payment of expenses is usually done as follows: Every owner pays a share, half-yearly or yearly, to ensure the payment of charges for common parts. The value of the share should be calculated taking into account the planned spending for each year and must be approved at an ordinary general meeting of owners.

Bank Accounts

The condo has two accounts:

a) Checking Account for current payments (payments for water, electricity, cleaning of stairs ...).

b) Savings Account, where contributions relating to the Common Reserve Fund should be deposited.

The condominium may have another saving account - optional and which seeks to meet future expenditure on repairs of large value - which is a Condominium Savings Account.

What is the Meeting of Owners?

The meeting of owners is the most important organ of the condominium, because of its role of decision making entity on the various issues that are raised.

The meeting of owners is limited by mandatory provisions of law and by the title of incorporation. Which means it has the power to decide on all matters relating to the common parts of the building as long as it does not contravene the law. And it can only change the incorporation title by unanimous decision of the meeting of owners.

How many owners’ meetings per year?

There should be a meeting in the first fortnight of January. The meeting should be convened by the administrator in order to discuss and approve the accounts for the previous year and approval of the budget for the current year.

What are the rules that govern the convening of meetings?

The meeting should be convened by registered letter with acknowledgment of receipt sent ten days in advance or through a notice of meeting with the same advance notice. In this case, there must be an acknowledgment of receipt signed by the owners.

What should be the content of the notice?

The notice shall indicate the date, time, place and agenda of the meeting and report on the matters which may only be adopted by unanimous vote.

What are the functions of the administrator?

• Convene a meeting of owners;

• Prepare the budget of revenue and expenditures for each year.

• Verify the existence of insurance against the risk of fire, suggesting to the meeting the amount to be insured.

• Collect revenue and pay for the common expenses.

• Require from the owners their share of the expenses.

• Perform the registrations required by law relating to the rights of common property.

• Regulate the use of common parts/areas and the provision of services of common interest.

• Execute the decisions of the meeting.

• Represent the owners before the administrative authorities.

• Be accountable to the meeting of owners.

• Ensure the implementation of the internal regulation and all legal and administrative provisions relating to the condominium.

• Save keep all documents relating to the condominium.

Who can be an Administrator?

The position of administrator can be exercised by one of the owners or by a third party.


What is the duration of their functions?

The term of office shall be, except as otherwise provided, one year, and it may be renewed. The administrator shall remain in office until the meeting elects or appoints his successor.