Top tips

Le­gal ex­pert Matthew Cameron pro­vides ad­vice on buy­ing within a co­pro­priété

French Property News - - Real Life - Matthew Cameron, Ash­tons Le­gal Tel: 0330 404 0730 ash­ton­sle­gal.co.uk

Co-own­er­ship sit­u­a­tions arise most com­monly with a block of apart­ments; each owner is ab­so­lute pro­pri­etor of their apart­ment, while all com­mon parts (eg the struc­ture of the build­ing, the cor­ri­dors, the en­trance hall, the land) are owned pro­por­tion­ately by all of the own­ers. An­other kind of co-own­er­ship can also ex­ist on larger hous­ing es­tates.

The size of your prop­erty in re­la­tion to the oth­ers will re­flect on your pro­por­tion of the own­er­ship of the com­mon parts. This will affect your due con­tri­bu­tion to the man­age­ment charges, and to the level of your vot­ing rights at AGMS.

It is im­por­tant to un­der­stand the level of man­age­ment charges. These will nor­mally be col­lected quar­terly, in ad­vance, by the co-own­er­ship man­ager – the syn­dic.

When buy­ing in a co-own­er­ship, be sure to in­spect the man­age­ment ac­counts and the re­cent min­utes of co-owner AGMS. It is now a le­gal re­quire­ment that this in­for­ma­tion be pro­duced to you be­fore you sign the first pur­chase con­tract. You may learn from this whether there is any on­go­ing lit­i­ga­tion that may affect you as a fu­ture owner, or whether there are de­bates about main­te­nance or any re­pairs that may need to be car­ried out in the fu­ture.

It is al­ways sen­si­ble to at­tend co-own­er­ship meet­ings, to en­sure that you can vote on any rel­e­vant mat­ters aris­ing. You can also au­tho­rise some­body else to ex­er­cise your vot­ing rights: the syn­dic will is­sue the AGM agenda in ad­vance so that you can be aware what mat­ters are to be dis­cussed and voted on.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.