jamesflick Posted May 2, 2021 Report Share Posted May 2, 2021 You may have heard the terms of ownership or horizontal and vertical division at some point, especially when you want to buy a house . Well, today we will talk about these concepts in detail so that you have no doubts. Let us begin! Sky Marketing strives to be Pakistan's biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. With projects blue town sapphire location What is horizontal division and what is it for? When we talk about a horizontal property we have to think of a building with a community of neighbors. In a building we find common and private areas where the owners reside , this step is the horizontal division where it is established from a document which are the private elements and the areas in which one is a co-owner. When you reside in a horizontal property, you are the dual owner of your property in its entirety and co-owner of the building. All the owners of the building become a community of owners regulated by the Horizontal Property Law , which we will talk about in another section. The horizontal division does not have to always occur in this way, there are other situations in which we can use it. You can make a horizontal division of a house with a comprehensive reform , as long as you have the unanimous support of the neighborhood community and they approve the building license, or you can also make the horizontal division of a house that here you only need to have approval of the major work license and the certificate of habitability. The Horizontal Division Deed The deed of the horizontal division of a visit is a document in which all the information related to the property appears. In the deed it will appear which are the private elements and the common areas and how it is organized. It is a legal document so that everything is legally stipulated. We will find the statutes of the community, the list of common and private elements and the participation fee of each owner regarding the property as a whole. In order to complete the document, you must follow these requirements: The ideal legitimation in the grantor (s) , that is, that all the owners will have to agree with the deed. The deed must be public. The Deed is mandatory when there are more than 4 owners in the community. Work license. This will be in the case of new construction homes, it will be necessary to determine which are the common areas, private homes. To declare the horizontal division of the building or home, it is important that the Tax on Documented Legal Acts is paid and, if necessary, registered in the Property Registry. The Horizontal Property Law Before we have mentioned the famous Horizontal Property Law or LPH, but let's see what it consists of. This document establishes the rights as the owner of a private home and those of co-ownership with the rest of the neighbors. Positions in the neighborhood community The objective of this law is that there is a legal framework for coexistence between neighboring communities. Within a community of owners there are governing bodies (article 13, LPH) to facilitate the management of the building: The Board of Owners. President. The vice president. It is not a mandatory position, but it is recommended in case the president is not in the house, it will be easier to manage it. The Secretary. The administrator. Both the secretary and the administrator do not need to be owners, while it is mandatory for the president and vice president. In the Horizontal Property Law we can also find the regulations for ordinary and extraordinary meetings, the functions of the governing bodies and the rights of the owners. In the latest update, two laws have been added limiting housing for tourist use and support for the rehabilitation of buildings. If you are interested in buying a home, do not hesitate to contact us , we have flats and houses in many areas of Spain. Resources This is how I have fun with my family since I moved to Mérida This is how I have fun with my family since I moved to Mérida WHAT IS RELEVANT CONTENT AND WHY DO YOU NEED IT? Ashland How to choose the best residential development in Cancun among so many options? HOW TO DEFINE A MARKETING STRATEGY USING THE SOSTAC METHOD? Tajarat Patterjack dog breeds murshidalam voguemagz math aids Quote Link to post Share on other sites
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