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The financial contribution assumed by the real-estate developer, in his capacity of co-owner, in relation with the expenses arising from the co-ownership and the operation of the immovable, as well as the amounts to be paid into the contingency fund and the self-insurance fund. This obligation to pay his share of the common expenses exists, from the publication of the declaration of co-ownership, for every unsold private portions he owns.
23/07/2024
Expenses related to the maintenance and administration of the common portions of a co-ownerships start from its constitution as a legal person. It is therefore necessary that each co-ownership sets up, upon publication of the declaration of co-ownership, a Board of Directors to administer it. This board of directors is the…...
23/07/2024
The presence of a Board of Directors is mandatory in a co-ownership. It is the executive body of the syndicate and its legal representative. Its members act as the mandataries of the syndicate. When a co-ownership is newly constituted, the declaration of co-ownership generally provides for the appointment of a interim director, who exercises…...
01/03/2010
We have just bought a new apartment in a co-ownership of more than one hundred apartments. There are still several unsold units in the building. I am one of the newly elected directors at the special meeting for the election of the new board. We have asked the developer to…...