On July 27, 2022, the Executive Secretariat of Condominiums, by means of Circular Ord. No. 01, instructed about the entry into force of Law No. 21,442, the New Real Estate Coownership Law, and the effects derived therefrom.
The above, with respect to its transitory provisions and the applications to join the real estate co-ownership regime that were being processed at the Municipal Works Directorates (DOM) at the date of its entry into force, on April 13, 2022.
The institution informs the following:
Pursuant to the second paragraph of Article 100 of Law No. 21,442, the communities that have been covered by Law No. 19,537 on Real Estate Co-ownership, will be governed by the New Real Estate Co-ownership Law, as of its publication, and must adjust their co-ownership regulations within a period of one year. On the other hand, the agreements adopted by the Co-Ownership Assemblies prior to April 13, 2022 will be valid as long as they are not contrary to the provisions of the new law.
Regarding the matters that the new law refers to the regulation of the law, until such regulation is published, the Assembly of Co-owners may adopt the necessary agreements to materialize such provisions, being considered valid agreements until the publication of such regulation.
Regarding permits and applications to join the real estate co-ownership regime, the Executive Secretary of Condominiums points out that the applications filed up to April 12, 2022, will continue to be processed and must be resolved in accordance with the regulations in force at the date of their filing, i.e. Law No. 19,537.
Likewise, permits approved by the DOM prior to the publication of Law No. 21,442, where it was informed that the project would later be subject to the real estate co-ownership regime, will be processed and resolved in accordance with the regulations in force at the date of the entry of the building permit application.
Finally, it is noted that the permit applications, where it is informed that the project will later be included in the real estate co-ownership regime, as well as the applications to be included in such regime, submitted to the Municipal Works Directorates between April 13, 2022 and the date on which the regulation of the law is published, will be processed in accordance with Law No. 19,537.
For more information, please contact our group:
Álvaro Rosenblut | Partner | firstname.lastname@example.org
Valentina Palma | Associate | email@example.com