JOINT OWNERSHIP

All co-owners are owners of part of the building set out in an indissociable manner as follow :
-private elements (dwellings, garage....)
-proportional share of the communal parts of the property (basement, yard, access, roof ...)
measured in so many parts (proportional to the value of your lot compared to the value of the other lots in the building)

 
The co ownership is regulated by the law of 10 July 1965, as amended by Law of 31.12.1985, the decree of 17.03.1967. 


ASSOCIATION OF PROPERTY OWNERS: mission to conserve and administer communal parts, must enforce the co ownership rules
MANAGING AGENT : Authorised to represent the above association, designated by the general assembly, must account for its acts at least once a year, must be in possession of a professional card and received payment. Duties include, carrying out decisions made by the general assembly, drawing up contracts, establishing the estimated budget, collecting maintenance charges, paying suppliers, recording and clarifying documents and representing the co owners in legal affairs

PROPERTY OWNERS COUNCIL :: assists the managing agent, made up of at least 3 members, chosen by the co owners for a renewable period of 3 years
General Assembly: represents and voices the will of the co owners, who vote a majority

 
CO OWNERSHIP RULING : identifies the private and communal areas of the building. Defines conditions of use and fixes the rules concerning the administration of the communal areas. Specifies the nature of charges and the quotas. 

ON GOING COSTS : relate to the upkeep, maintenance and administration of the building. Proportionally calculated. Requested by the managing agent and payable on a quarterly basis

MAINTENANCE REGISTER : The managing agent must hold a written register concerning the upkeep of the property