What is a joint ownership?
It is a real property regime in which both common assets and those of each owner coexist .
What regulations govern real estate co-ownership?
The Law No. 19,537 , on Copropiedad Real Estate, the Regulation of Law No. 19,537 and the Joint Ownership Rules to determine the co – owners, subject to planning legislation is applicable.
Who can benefit from the real estate co-ownership law?
The co-owners of buildings, condominiums, commercial premises, offices, warehouses, parking lots, industrial areas and sites, among others.
Who is part of the joint ownership?
All owners of houses, apartments, warehouses, parking lots, industrial premises or sites that are in the aforementioned conditions.
What assets are considered common?
Among others, those that belong to all co-owners because they are necessary for the existence, security and conservation of the condominium. For example, exterior walls, roofs, stairs, elevators, general facilities, etc.
Can common goods be altered?
Yes. However, the alterations must be subject to the provisions of the co-ownership regulations or, failing that, to what is determined by the co-owners meeting.
What is the specific way to benefit from the real estate co-ownership law?
The co-owners must organize themselves in an assembly , which they must attend personally or represented; form a management committee ; choose an administrator; issue a regulation and open an exclusive bank account for joint ownership.
What is the assembly for?
To deal with any matter related to the interests of the co-owners and adopt agreements.
Who make up the assemblies?
The co-owners, who must attend personally or through representatives.
What kinds of assemblies are there?
There are ordinary or extraordinary assemblies.
- Ordinary assemblies must meet at least once a year. They must account for the management and any matter of interest of the co-owners.
- Extraordinary assemblies must meet whenever the needs of the condominium require it, or at the request of the Management Committee or the co-owners who represent at least fifteen percent of the rights in the condominium. Only the topics included in the summons may be discussed in them.
How are the assemblies constituted?
The ordinary assembly is constituted, in the first summons, by the attendees who represent at least sixty percent of the rights in the condominium and in the second summons by the concurrent co-owners.
In the case of extraordinary assemblies, in the first summons they are constituted with the assistance of the co-owners who represent, at least, eighty percent of the rights in the condominium; and second, with the assistance of those who represent at least sixty percent.
How should the assembly be called?
Must cite the Administration Committee or the Administrator. The summons must be personal, that is, by delivering it materially, or by registered letter to the address of the co-owner. Likewise, it must be done with a minimum anticipation of five days, not being able to exceed fifteen.
What agreements can be adopted in the session of the first assembly?
You can make the appointment of the members of the management committee, among others.
What matters are dealt with only in extraordinary assemblies?
- Modification of the co-ownership regulation.
- Alienation or leasing of common property, or the constitution of liens on them.
- Reconstruction or demolition of the condominium.
- Petition to the Municipal Works Directorate to annul the declaration that accepted the condominium to the real estate co-ownership regime, or its modification.
- Delegation of powers to the administration committee.
- Partial or total removal of the members of the administration committee.
- Extraordinary expenses or investments that exceed, in a twelve-month period, the equivalent of six ordinary common expenses of the total condominium.
- Joint administration of two or more condominiums and establishment of sub-administrations in the same condominium.
- Self-financing programs for condominiums, and associations with third parties for these purposes.
- Change of destination of the condominium units.
- Constitution of rights of use and exclusive enjoyment of common property assets in favor of one or more co-owners, or other forms of use of common property assets.
- Alteration works or extensions to the condominium or its units.
- Constructions in common goods, alterations and changes of destination of said goods, including those assigned for exclusive use and enjoyment.
Can a tenant join the assembly?
If a co-owner does not attend or does not designate a representative, or by appointing one, he / she does not attend the assemblies, the law understands that the co-owner accepts to be represented by the tenant or occupant of the home, provided that this is established in the lease agreement .
Who appoints the administrator?
It must be appointed by the assembly of co-owners, and in the absence of such designation, the president of the administration committee will act as administrator. The administrator may remain in her position as long as she has the confidence of the assembly of co-owners, and may be removed at any time by agreement of the assembly.
Who can be an administrator?
Any natural or legal person, designated by the co-owners in assembly. His appointment must be recorded in a public deed.
What are the functions of the administrator?
Those that have been established in the co-ownership regulations, as well as those conferred by the assembly. For example: take care of common property, collect and collect common expenses, represent the co-owners in court, among others.
Who can form the management committee?
The co-owners, their spouse or their representatives. There must be at least three members, among whom a president must be chosen, who, as has already been said, will replace the administrator if necessary.
What should the co-ownership regulation contain?
The obligations to be respected by the co-owners to ensure coexistence, good use and the limitations of common property; the form of administration of the condominium and the amount of common expenses .
How are common expenses regulated?
The law distinguishes ordinary and extraordinary expenses.
- The ordinary ones are those thatare generated by the maintenance, administration, repair and use of the joint ownership.
- Other expenses, as well as the amounts destined to new works, are classified by law as: “extraordinary common expenses”.
All co-owners are obliged to pay ordinary and extraordinary common expenses, in proportion to the right that corresponds to them in co-ownership.
The co-ownership regulations may establish another form of distribution, amount and term for payment. No co-owner can be exempted from this payment for not using the common use property.
In addition, the law establishes that if they are not paid in a timely manner, and therefore the value of the joint ownership decreases, or a situation of risk or danger arises, the causing joint owner will be liable for all damages or losses.
Can I cut off my electricity if I am late in paying common expenses?
Yes, the administrator can suspend the electric service if a co-owner is delinquent in three or more installments, with the agreement of the condominium administration committee.
Can I have animals?
It is possible to have animals if the community regulations allow it.
Who solves the problems of the community?
The local police courts. Referee judges can also be used. Likewise, the municipality has the powers to resolve conflicts out of court.
