The regulation will define internal administration rules and will apply to all condominiums governed by the law.
On Thursday, January 9, the regulations of the new Real Estate Co-ownership Law (Law No. 21,442) were finally published in the Official Gazette.
This new regulation will apply to all condominiums governed by Law No. 21,442 and its objective is to establish the rules of internal administration, in accordance with the provisions of the law and the characteristics of the condominium.
Among the most important points, we consider the following:
- Register of Co-Owners and Coexistence Rules:
- The creation and updating of the Register of Co-owners is regulated, mandatory for all condominiums, where co-owners, tenants and other occupants are individualized.
- Coexistence rules are incorporated to protect the quality of life of the permanent occupants, particularly with respect to activities such as temporary lodging and the use of common property.
- The regulations prohibit any act that disturbs the exercise of the rights of the other occupants of the condominium and allow the implementation of sanctions for infractions.
2. Condominium Administration:
- It specifies the organization and operation of the Administration Committee and the Administrator, who must render monthly and detailed accounts.
- The possibility of holding telematic or mixed assemblies is established, ensuring mechanisms for effective participation and verification of quorum.
- The possibility of entering into payment agreements between the administrator and the delinquent co-owners is regulated, under criteria defined by the Administration Committee.
3. Safety and Emergency Plans:
- The preparation and annual updating of an emergency and evacuation plan is mandatory, especially considering people with disabilities, reduced mobility and special needs.
- The first emergency plan must be submitted to Carabineros and the corresponding fire department.
4. Economic Obligations:
- Ordinary and extraordinary common expenses, the common reserve fund and other economic payments are specifically regulated.
- It is mandatory to take out a collective fire insurance policy, with the possibility of including complementary coverage such as earthquakes.
5. Common Goods and Accessibility:
- The exclusive use and enjoyment of common goods is regulated, which must be approved by the assembly of co-owners.
- Differentiated common property, such as pedestrian or vehicular access, must comply with minimum accessibility and safety standards.
6. Co-ownership in Social Housing:
- Specific rules are established for social housing condominiums, including the appointment of a provisional administrator in cases of lack of administration.
This regulation represents a significant advance in the regulation of administration, coexistence and security in the country’s condominiums.
It is recommended that administrators and co-owners familiarize themselves with these provisions to ensure compliance.
For more information on the application of the regulations and the Real Estate Co-ownership Law, please contact our Corporate and Business team:
Álvaro Rosenblut | Partner | arosenblut@az.cl
Stephanie Cruz | Legal & Business Director | scruz@az.cl
Javiera Lira | Senior Associate | jlira@az.cl
Raimundo Busquet | Associate | rbusquet@az.cl
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