Whether you are buying or selling an apartment, you will certainly come across the term condominium. We believe that you know the meaning of the term étage, but how is this word related to étage and is there even a link between the mentioned terms? The answers to these questions, as well as an explanation of the necessity of condominiums, are provided below.
What exactly is a condominium?
The ownership of a floor or part of a house or apartment, if it is a building, is established by using condominiums. In addition, garages, business premises and more can be shared. But we will write about this in more detail later. The main goal of condominiums is the legal establishment of ownership and registration in the land register.
Why is condominium necessary?
If the building is not multi-level, the apartments in it cannot be registered in the land register. As a result, it is difficult to prove that you are the real and sole owner of the property within a complex. With this, you will encounter many problems if you are selling an apartment, but also if you are buying it (without checking in advance whether it is a condominium).
How can you share a property?
For condominiums, it is necessary to engage authorized professionals. This includes court experts for construction, as well as architects. They prepare a development plan. The draft is a document that must be submitted to the court after it is drawn up, which will ensure that your apartment / part of the house will be registered in the land register in a proper and legal manner. If it is an apartment inside the building, you as the owner will own part of the land as well as the common rooms (pantry and similar).
Is condominiums necessary and is it legal to have an apartment that is not condominiums?
According to the law, floor plan is necessary and mandatory for all apartments and houses.
How much will the condominium cost you?
If it is paid from the reserve, there will be no additional costs for you personally. However, if this is not the case, an average of three to five euros per square meter is charged.
What is the condominium procedure?
Collecting documentation and comparing it with the real condition of the building is necessary if you want to share the property. It will be necessary to hire a surveyor to measure the space. This is followed by the drafting of a plan for condominiums and obtaining an inter-ownership agreement on acceptance of the plan.
Which facilities and spaces can you share?Even though apartments and houses are often shared, these are not the only types of buildings that can be shared. And here's a list if you're wondering which spaces this option is available for:
- Family houses with several apartments
- Apartments within residential buildings
- Business premises
- Garages and basements
- Balconies and terraces
- Parking spaces
- Gardens
- It shows the type and size of your space
- Property display
- Proposals for the distribution of common and special parts of the building
- Graphical part with marked property ownership
...and finally, the most important item that must be included in the report: the proposal for registration in the land register.
Does one floor unit refer to only one floor?
Not. One floor unit can refer to two floors or ground floor and first floor. This part also depends on the agreement between the property owners. Likewise, the floor of the property does not automatically indicate the floor number. To simplify, if you live on the seventh floor of a building, your apartment does not have to be registered as E7, that is, the seventh apartment unit.
What if your apartment is not shared (yet)?
If you have an apartment that is not a condominium, you must be aware that you will not be able to sell it as such. The same applies vice versa, if you are buying an apartment. We believe that this is a good enough reason not to delay real estate sharing, but to make it an unavoidable step in the world of real estate buying and selling.
Is it possible to split all the buildings?
Unfortunately no. If the building is not registered in the land register, there will be problems with the sharing of apartments inside it. Of course, even then there are ways to manage the space inside the building, but it will require more time and money.
Splitting real estate is necessary for everyone who buys or sells real estate, but also for those who are in the process of distributing family assets. Without this element, you can face unnecessary problems and costs that you could have prevented by sharing. If you have additional questions about condominiums or how to find the right person who could implement condominiums for you, contact us with confidence. Our agents will be happy to help you.
