Minvu instructs deadlines for issuing and updating Real Estate Co-ownership Regulations

Mar 24, 2023

On March 17, 2023, the Executive Secretariat of Condominiums of the Minvu published Circular Ord. No. 02, which instructs on the deadlines set forth in the Real Estate Co-ownership Law, specifying the effects established by Law No. 21,508, which interprets and modifies it in terms of the issuance and updating of bylaws.

In this respect, Article 100 of the law establishes that the communities under the old law will be governed by the new law as from its publication in the Official Gazette, but the obligation to adjust their regulations to the new law must be complied with one year after its publication.

On the other hand, transitory article 6 of the law states that its regulations must be issued within twelve months from the publication of the old law, which has not occurred.

As a result of the above, and in accordance with Article 1 of Law No. 21,508, which interprets and amends the Law, it states that, interpreting Article 100 of the Law, and in the case of regulated matters whose application requires the issuance of regulations or complementary rules, the provisions established in the old law (19,537) will remain in effect until these texts are published.

Thus, the Executive Secretariat of Condominiums instructs that the term for issuing or updating the Coownership Regulations shall be counted from the date of publication of the Regulations of the Law.

For more information on these topics, please contact our group azRealEstate:

Álvaro Rosenblut | Partner | arosenblut@az.cl

Valentina Palma | Associate | vpalma@az.cl

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