New Jointly-Owned Properties Legislation drafted

Everyone who’s had dealings with the Jointly-Owned Properties Legislation will concur that it’s in dire will need of revision. I get as several complaints and queries about this certain law (two this early morning) as I get about Title Deeds.

It would seem that, at lengthy very last, the legislation is about to modify. A draft legislation for the administration and procedure of jointly-owned properties has been well prepared by the Office of Lands and Surveys and the Commissioner for Legislation.

Draft Jointly-Owned Structures Regulation

The draft law aims to clear up a host of serious problems with the existing regulation together with the absence of management committees, non-payment of communal charges, insurance policy and partial or complete destruction of the creating. Its reason is to give administration committees with the overall flexibility to carry out its obligations, to make certain that device owners meet up with their obligations and that attributes are appropriately taken care of.

A administration committee or proprietor who fails to comply with any obligation below the proposed law or polices is subject matter to a fine of up to €3,000.00.

New Service to oversee compliance

A separate services will be set up dependable for overseeing compliance with the law. The part of the Division of Lands and Surveys will be restricted to challenges relating to the profession and registration of jointly-owned properties.

This new support will be accountable for registering jointly-owned buildings, the registration of management committees with the Provider and keeping a sign up of the structures and their administration committees.

In addition to jointly-owned structures that have been registered, the legislation will utilize to all jointly-owned properties that have been issued with a setting up allow, division and acceptance certification (or a certification of unauthorised will work).

Management Committees

The draft law empowers management committee to claim expenses that are fairly necessary for protecting and working the prevalent spots of the creating for which homeowners have not compensated.

The draft monthly bill (in Greek) has been posted on the Section of Lands and Surveys web site for community session.

(A device translation of the draft new law into English might be viewed by clicking below.)