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Have you heard about the changes to the 2018 Co-ownership Law?

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Have you heard about the changes to the 2018 Co-ownership Law?

The laws of the Co-ownership have changed. Here is a summary of some of them.
The law applies from 1 January 2019.

1. Some of the co-ownership rules are transferred to the internal rules, namely all the provisions that may be subject to frequent legal changes, such as the rules relating to the functioning of the General Meeting (GM), the rules governing the office of the property manager, and the determination of the annual 15-day period for the holding of the GM.
A notarial deed is required for withdrawal of the old co-ownership rules and for the adoption of internal rules.
The property manager is obliged to adapt the update of the internal rules without the need for a prior decision of the General Meeting.

2. There is a new right to be assisted by a person of one’s choice at General Meetings. To exercise this right, the property manager must be given four days’ advance notice by registered mail.

3. The qualified majority rules have been relaxed.
o For decisions to carry out works, a majority of 2/3 of the votes is required, instead of 3/4 of the votes.
o For work required by law (compliance of lifts, fire safety, insulation standards, etc.) and for maintenance work on the property, the decision can be taken by an absolute majority of the owners present or represented
o Where a unanimous decision is required, but unanimity is not achieved owing to absence, a second GM may be convened within a period of at least 30 days and the decision in question may be taken unanimously by the co-owners present or represented.

4. The contract with the property manager must lay down the list of services included and the list of supplementary services and terms of payment for them.

5. Establishment of new procedures for constituting reserve funds. The Co-owners Association must set up a reserve fund no later than 5 years following the date of provisional acceptance of the common parts, the annual contribution to which may not be less than 5% of total ordinary common charges for the previous financial year.

6. For the appointment of the Co-owners’ Association, the GM must hold a separate vote for each member of the Co-owners’ Association.
The agenda must include a vote on the discharge and appointment of the members of the Co-owners’ Association.

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