CO-OWNERSHIP LAW
LexInter | April 27, 2004 | 0 Comments

CO-OWNERSHIP LAW

Co-ownership is an organized collective property. It can relate either to furniture (ship co-ownership for example), or to buildings).

In real estate, a distinction is made between horizontal co-ownership and vertical co-ownership.

In real estate matters, the joint ownership of built buildings is a collective vertical property of built buildings distributed by lot, with common areas and private areas. It organizes the terms of collective and urban housing from a legal standpoint.

 

 


Real estate co-ownership

Any building divided into lots is subject to the property co-ownership regime regulated by the law_du_10_juillet_1965_fixant_le_statut_de_la_copropriete_des_immeubles_batis .

In real estate co-ownership, the co-owner owns a lot that combines

– a private part (residential apartment, cellar, service room, commercial premises, offices, etc.)

– a share of undivided ownership of the common parts of the building (floor, courtyard, access road, roof, walls, stairs, corridors). 

Each lot under the undivided ownership of the common parts is liable for the common charges according to the fees which are fixed in the co-ownership regulations for this lot according to the description of the division.

The determination of the private parts and the common parts, the lots and attached fees and the rules concerning the co-ownership are contained in the co-ownership regulations which is the charter of the co-ownership.

Decisions concerning the co-ownership are taken by the syndicate of co-owners.   The co-ownership is administered by the syndic of co-ownership.

Real estate complexes comprising land, housing and common facilities, as well as independent individual houses, built on the same land, may also be subject to the co-ownership regime, if the owners have not chosen another management system (trade union association). ). 

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