What are the conditions for founding a condominium?
Among others, the most important condition for founding a condominium is the draft of a deed of foundation (otherwise known as founding charter) for the condominium, which can either be executed as a public record, or a private record countersigned by an attorney. The deed of foundation is deposited into the land registry records. From 01st January 2014, along with the deed of foundation a survey map drawn by a surveyor must also be filed to the land registry office. When founding a new condominium, the entire floor plan of the building must be drawn and filed.
Why is the condominium deed of foundation important?
The purpose of the condominium deed of foundation is to record the basic ownership relationships for buildings with multiple units and premises. It itemizes the common and separately owned spaces and building parts. This determination is crucial because it decides who has authority over these areas. The common ownership portion is ruled by the condominium assembly, while the owner has control over their separately owned portion.
What should be specified in a deed of foundation?
The deed of foundation should specify the separately owned apartments, non-residential premises, the ownership shares entitled to each co-owner, and the method of determining these shares. It should also list the common parts of the building and other required data, rights, facts stipulated by the rules of the land registry, and the common name of the community, which is the address of the condominium in the absence of other designations.
What documents are required for preparing the deed of foundation?
- § Land registry extract
- § Building permit
- § Final occupancy permit
- § Building survey map
- § Floor plan for each level
How is the survey map prepared?
The land surveyor surveys the entire building and creates the survey map along with the associated registry request. This documentation must be submitted for endorsement to the land registry. If the land registry finds the documentation compliant with legal requirements, it endorses the survey map. Subsequently, along with the survey map, the deed of foundation or its modification, if necessary, along with any required official certificates, can be submitted to the land registry.
Is the procedure similar for a new building?
In the case of a new building, the builder must submit a declaration of intent to the land registry regarding its wish to execute a deed of foundation, and only then can the final document be submitted, as without it, the division of the building into lots cannot be recorded in the land registry.
Can a condominium be created on multiple land parcels?
No. A condominium cannot be established on multiple land parcels because the land registry for condominiums can only include one land parcel with a registered land registry number.
Is legal representation necessary for the establishment of a condominium or the modification of the deed of foundation?
Yes. The deed of foundation and its modifications, including resolutions alienating two-thirds common ownership, must be recorded in a public record document or a private record document countersigned by a lawyer or a legal consultant within their professional competence.
What voting ratio is required for the modification of the deed of foundation?
The modification of the deed of foundation requires the consent of all co-owners, and the change must be reported to the land registry. However, an exception is made if four-fifths of the owners agree with the modification, and the minority co-owners do not exercise their right to file a lawsuit within 30 days from the date of voting or, in the case of written voting, from achieving the four-fifths majority. In such a case, the deed of foundation or its modification becomes effective.
