Glossary · Buildings, land and paperwork
Juristic person
Also called: Condominium juristic person, Owners' association
In short
The legal body made up of all the owners of a condominium. It runs the building: it collects the fees, employs the staff and enforces the regulations.
What it means
When a condominium is registered, a juristic person is created for it. Every owner is a member automatically. It acts through a manager and an elected committee, and answers to the owners' general meeting.
What it does
- Maintains and insures the common property.
- Sets the budget and collects the common fees and the sinking fund.
- Enforces the regulations: pets, renovation, noise, letting.
- Issues the letters needed for a transfer: that a unit's fees are paid, and the current share of foreign ownership.
Housing estates with a land allocation licence can form a similar body to take over the roads and facilities from the developer.
What an owner should know
Votes follow floor area. In a new building the developer holds the votes of unsold units and appoints the first manager. The yearly meeting is where the budget, the fees and the rules are decided, so attend it or give someone your proxy.