- Thread starter gtoane
- Start date
condominium bilaws, think of purchasing
Condominium Law 5038 of 1958 is the bible, so to speak. The rules of condominiums must be in conformity with it. Additionally, condominium add rules to deal with problems experienced or anticipated, or to elaborate on what is in the law. But the proper starting point for your study is the law.
Condominium Law #5038 of 1958
Condominium Law #5038 of 1958
Condo regulations should be made to fit the wishes of the condo owners. There is no one-size-fits-all solution to this, as many have found out who have copied regulations from their neighbor or trusted the surveyor with the entire process. There are many variables to take into account. Consult with a lawyer who knows the law.
Another critical aspect of determining which, or if, condo to purchase is the management company responsible for the daily operation of the community. A condo association in complete compliance with the letter of the law can still run amok, as many have, due to ineffective management of the community. Interview owners who are not on the board of directors or investors in the management company!
If you are thinking of buying a condo, you should read its rules. But no matter what they are, as was pointed out below, this is just one consideration. If the condo is not well administered then the rules won't be worth much. That is the case all to often in the DR.
An important consideration is the history of owners paying their maintenance fees and paying them on time. There are too many condominiums where a few or many don't pay their maintenance fees, putting a great burden on those who do.
When you review the rules, pay particular attention to the procedure for dealing with delinquent owners. Find out how many owners are delinquent and whether the procedures for collection are being enforced. Steer clear of any condominium that has fee collection problems no matter how much you might like a particular unit.
You may think that once there you can bring about improvements, but to make or eliminate or revise a rule requires approval by at least 75% of the total number of apartments. If there are 18 units, as in the condo where I live, it takes 14 "yes" votes. This is in the law and cannot be changed locally
Ask about the annual assembly. How many owners attend in person and how many give their proxy to the manager. I know from past experience that having a manager who has a number of proxies is not good news if you expect responsiveness from your administrator.
A question or interpretation of Article 42. As I understand it, when an owner is in arrears for maintenance, after the required period of time, a lien can be placed on their unit.
However does Article 42 mean that this unit can be auctioned? Not sure how to read this.
Anyone with knowledge of this? Any input is appreciated.
To be sure of getting a response from Fabio Guzman, I suggest you start a new thread with your question in the Legal section.
Art. 42 of the condo law has nothing to do with maintenance fees. You should refer to articles 18, 32 and 33. The collection procedure indeed ends in a public auction, if the delinquent owner does not pay.