Exciting updates in the world of property law! On January 10, 2022, Law No. 8/2022 was introduced, shaking up the Horizontal Property Regime. This revision impacted not only the Civil Code but also Decree-Law No. 268/94 of October 25, and even the Notary Code.
Fast forward to April 10, and the law officially came into effect. However, there's a little exception to note: an amendment to article 1437-A of the Civil Code, which actually kicked in a day earlier, on January 11, 2022.
Now, what's all the buzz about? Well, let's talk about one standout change: the Responsibility for Condominium Expenses. This aspect got a makeover with the addition of article 1424-A to the Civil Code.
So, what's the deal with this new law? Here's the scoop: As of April 10, if you're selling a portion of a property - whether through a traditional purchase and sale deed or a private document - there's a new must-have: a Written Declaration from the Condominium Administrator.
If you're the seller in this scenario, you'll need to ask the Condominium Administrator for this written declaration. It's essentially a breakdown of all the expenses tied to the portion of the property you're selling.
But here's the kicker: The Administrator has ten consecutive days from your request to provide this document. It's got to detail all the nitty-gritty of the condo expenses - the amounts, what they're for, and when they're due.
Plus, it's not just about what's owed. Any existing debts to the condominium, along with their origins, amounts, and deadlines, need to be spelled out too.
Now, let's talk responsibility. Any existing debts are pegged to when they should've been cleared. So, if you're the new owner, you're on the hook for debts from the date of the sale deed onwards. Of course, unless you specifically say you're cool with inheriting the seller's debts in the sale agreement.
And what about future condo expenses? Those are all on the new owner once the property changes hands.
#condomoinum #condominiumfees #realestate #properties
