Co-ownership management: Legal and administrative obligations
Introduction
Managing a co-ownership involves a number of legal and administrative obligations to ensure the smooth running of the building and harmonious co-existence between co-owners. This page details the main obligations of a co-ownership, providing clear and precise information for managing agents, co-owners and future buyers.
1. Co-ownership regulations
The condominium bylaws are an essential legal document that define the rules governing the operation of the condominium.
Key obligations :
- Compliance with the rules All co-owners must respect the provisions of the by-laws.
- Updates The by-laws must be updated in the event of major changes to the building or the rules of communal living.
2. Annual General Meeting
The general meeting of co-owners is the decision-making body of the co-ownership.
Key obligations :
- Convocation The syndic must convene the general meeting within the legal timeframe.
- Quorum Decisions must be taken with the required quorum, which varies according to the nature of the resolutions.
3. Financial Management
The financial management of a condominium includes collecting charges, paying suppliers and keeping accounts.
Key obligations :
- Provisional budget Drafted and approved annually by the Annual General Meeting.
- Separate bank accounts A separate account must be opened in the name of the condominium corporation.
- Transparency Accounts must be accessible and transparent to all co-owners.
4. Maintenance and Works
The co-ownership has an obligation to maintain the building in good condition and to carry out any necessary work.
Key obligations :
- Routine maintenance Regular maintenance of common areas.
- Work voted on at the general meeting Major works must be approved by the general meeting.
- Mandatory inspections Technical diagnostics and periodic inspections (elevators, asbestos, etc.).
5. Safety
Ensuring the safety of residents and visitors is a major obligation for any condominium.
Key obligations :
- Compliance with standards Installations must comply with current safety standards.
- Evacuation plans Evacuation plans and risk prevention measures.
6. Civil liability
Co-owners must take out civil liability insurance to cover any damage that may occur in the common areas.
Key obligations :
- Insurance cover Civil liability insurance is compulsory.
- Loss notification In the event of a claim, the property manager must declare the incident to the insurer within the legal timeframe.
Conclusion
Managing a condominium is complex, and requires a thorough knowledge of the legal obligations. Compliance with these obligations is essential to ensure proper management of the building and prevent disputes between co-owners. If you have any questions or require assistance, please do not hesitate to contact our firm specializing in condominium law.
Contact us
For more information or personalized legal assistance, contact Lexelians. Our lawyers specializing in condominium law are at your disposal to advise and assist you in all your legal matters.
