Ley de Propiedad Horizontal.....(horizontal
ownership). This sets out in considerable detail
the legal rights and obligations of owners on such
a community and states how those rights and obligations
are to be protected and enforced. It is a democratic
law which enables a community to run in accordance
with the wishes of the majority of the owners while
the rights of the minority are protected. But, it
only works if the owners exercise those rights. In
21 articles, the ley or law deals with all those
problems that can arise when a number of different
people share the ownership of those parts of the
buildings, gardens, pools etc. which are common to
all owners. In most communities the law works very
well and generally the owners are pleased with the
results, keep in mind, most people will want to protect
their investment, and a well maintained complex with
sensible community garden and pool rules will only
benefit both owners and community.
Community Regulations..
.First the law requires that each development of apartment or villas should have its own regulations, and these are called estatutos. It is advised that every new owner should read them and understand them. The statutes will define exactly what part of the property belongs to the individual owners and what parts are jointly owned. The precise share of each owner in the community should be clearly stated. The share of each individual property is very important because it defines the amount the owner has to pay towards the cost of maintaining the communal areas and also, the voting rights. The statutes deal with many matters but the defining of the private property and the common property are vital ones. Once drawn up, the statutes can only be altered by unanimous decisions of the owners at general meetings.
Obligations of the owners....These are set out in articles of the Ley. But in brief, all owners must look after their own property and installations, maintaining it in a good state of repair so that damage or danger shall not be caused to others. The same obligation applies to looking after communal installations and areas. Normally the community will have it's insurance which covers repairs to community areas and in some cases your own property, but the cover for your property will be for a low amount. You are therefore advised to take out house and contents insurance for a more comprehensive cover, which including public liability. This type of insurance can be arranged by Villascouts. Finally, you should always pay your community fee on time, this is very important, as you should remember, the community will only function properly when it has sufficient funds to operate available.
One last word, all Communities have to elect a president, administrator, secretary and treasurer. These persons are responsible to the owners for the sensible running of the community and from time to time report to the owners on all matters , collect the community fees, and generally administer the annual care and control. If you are joining an established community, then the community of owners is already in place, and the rules will already exist. If you are buying on a new complex, still being finished by the developers, then all the new property owners will be invited by the developers for the first general meeting where all the above will be decided.