Interior Design Solutions With The Right Results
Before investing in the purchase of a condominium home, it is advisable to learn about the rules and the operating system by which it is governed. Indeed, investing in an individual pavilion rather than in an apartment located in a building deserves reflection. A co-ownership has a particular functioning.
The vertical condominium, its operating system and its rules are the classic format that is obvious when talking condominium. In this case, the co-ownership generally extends to the whole of a building for residential use. The lots can also house certain liberal professions or businesses on the ground floor.
The co-owners then have ownership rights on one or more apartments individually and all have access to the common areas for which they share the costs up to their fees. However, a similar system exists for groups of houses, this is called horizontal co-ownership.
When the same plot of land accommodates several individual houses, it is a question of horizontal co-ownership. We also speak of suburban co – ownership. The common land is then divided into zones of enjoyment between the different co-owners. Condominiums remain a fairly rare system and remain a characteristic method of urban areas that were built between the 1960s and 1980s.Co-ownership houses are also a phenomenon that can be observed in the case of joint succession.
The fact that the land is not divided also means that the land is not, we then speak of undivided property between the various co-owners. Thus, when buying a condominium house, it is not a title deed that is acquired by the buyer, but a share of the co-ownership. It is this quota which corresponds to the right of use expressed above.Before renovation, it is important to find the best condo interior design for more ideas.
Regulations and legislation
It is the law 65-557 of July 10, 1965 which gives the definition of what a “ co-ownership ” is in the eyes of the law are thus considered as such “any built building or group of built buildings whose ownership is distributed, between several people, by lots each comprising a private part and a share of common parts.”
- This law explains that there are two systems of co-ownership: with vertical or horizontal operation. It also explains that natural or legal persons can own it.
- Thus, their only difference is their geometric configuration. The mode of operation and the legal principle are similar.
So-called horizontal condominiums have an operating system similar to that of vertical condominiums since decision-making in general assemblies by the co-owners, relating to the decisions to be taken concerning common spaces, are organized in a similar way and are the major feature of distinction of condominiums.
The common parts of a horizontal co-ownership
Unlike a vertical condominium, the common areas do not concern the corridors, the entrance hall, the stairs, the elevators and other common equipment present in the vertical condominiums.Each condominium house is owned by a separate owner. The common areas of the land concern the road, a possible swimming pool or other sports equipment for residents of the condominium.