Divided co-ownership

General information

• What are the main characteristics of the divided co-ownership?
• On what can we establish a divided co-ownership?
• What is a vertical co-ownership?
• What is a horizontal co-ownership?
• Is it possible to find co-ownerships which are horizontal and vertical?
• What is a syndicate of co-owners?
• What is a common portion and what does it include?
• What is a private (exclusive) portion?
• What is a common portion for restricted use?
• What is a fraction of divided co-ownership?
• How the relative value of each fraction is calculated?
• Who pays the expenses related to the common portions for restricted use?
• Should the parking as well as the storage spaces be common portions for restricted use or private portions?
• Is a fraction, of a private or common portion of a co-ownership, alienable?
• Can several owners hold the same fraction?
• What is the rationale behind the condo fees?
• What is a contingency fund?
• What is a self-insurance fund?
• How are taken the decisions within the co-ownership?

Declaration of co-ownership

• What is a declaration of co-ownership?
• What does contain the declaration of co-ownership?
• What is the content of the by-laws and what restrictions can it impose?
• Who has to proceed to the drafting of the declaration of co-ownership?
• Are the declarations which came into force before January, 1994 still valid?
• To what extent the declarations of co-ownership drafted before 1994 should be modified?
• What problems may occur with a declaration of co-ownership drafted before 1994?
• What rules have been introduced with the new Civil Code in 1994 and which were previously non-existent?
• What can be added to a declaration of co-ownership drafted before 1994 upon its updating?
• What is the use of the update of a declaration of co-ownership drafted before 1994?

Co-ownership insurances

• What insurances have to be taken out by the syndicate of co-owners and which of those are the responsibility of co-owners?
• What insurances the co-owners must take out?
• What insurances the directors of a syndicate of co-owners must take out?
• What will happen in case of partial loss of the divided co-ownership following a disaster?
• Is it necessary that the syndicate of co-owners takes out an insurance for a horizontal divided co-ownership?
• What is the replacement value in the case of insurance of a divided co-ownership?
• Who is responsible for the payment of the insurance deductible for a co-ownership?
• What can be the consequence of under-evaluating the "replacement value" of a divided co-ownership?
• What is a trust agreement?

End of co-ownership

• How can we end the divided co-ownership?
• How to end the activities exercised by the syndicate?