The regulations regulate the internal administrative regime as well as the rights and obligations of the co-owners of the respective condominium.
On April 12, 2023, the regulations of the new Real Estate Co-ownership Law, approved by the Ministry of Housing and Urbanism, were published in the Diario Oficial.
It is important to note that these regulations will apply to all condominiums governed by Law No. 21,442.
Among the most important points, we consider the following:
Rights and obligations of condominium co-owners
- The rules of the same shall be binding on the co-owners, their successors in title and, in general, on the occupants in any capacity of the units.
- It is established that the rules of use and administration of the condominium dictated by the condominium administration committee may not imply an arbitrary discrimination with respect to its occupants.
- Likewise, the respective owner shall be responsible for the repairs and maintenance of the unit under his ownership, with exceptions.
- Article 7 prohibits the co-owners from any act that disturbs the legitimate exercise of the rights of the other occupants of the condominium and establishes a series of specific prohibitions.
- Article 8 regulates the keeping of pets in the units.
Any infraction to the rules of these regulations, or to the rules of use and administration of the condominium, will be sanctioned with a fine that will be applied according to the provisions of these regulations.
Co-ownership Assets
- Each co-owner shall be the exclusive owner of his unit, and a co-owner in the common property, which is specified by law and the bylaws. Likewise, the co-owners may use the common property in the manner specified by the regulations and the Administration Committee.
- Exclusive rights of use and enjoyment may be constituted over some common property in favor of one or more co-owners. This must be done by agreement of the assembly of co-owners adopted in an extraordinary session of reinforced majority. Then, Articles 15 and 16 regulate the exercise of use and enjoyment.
- Article 17 regulates parking spaces for disabled persons.
- Article 18 allows the alienation, lease or encumbrance of certain common property, subject to the agreement of the assembly of co-owners adopted in an extraordinary meeting of a reinforced majority.
Contribution to economic obligations
Articles 19 to 27 regulate the economic obligations of the co-owners, whether ordinary common expenses, extraordinary common expenses, common reserve fund, initial operating fund, fines, interest and insurance premiums, among others.
Condominium administration
Articles 28 to 34 deal with the obligation of incorporation of each co-owner in the List of Co-owners, the functioning of the Co-owners’ Meetings, the organization of the Administration Committee and the role of the Administrator.
Co-ownership in social housing
Finally, articles 35 to 37 regulate co-ownership in social housing, establishing special rules.
For more information please contact our group azRealEstate:
Álvaro Rosenblut | Partner | arosenblut@az.cl
Valentina Palma | Associate | vpalma@az.cl
Raimundo Busquet | Associate | rbusquet@az.cl