Condominium ownership

Condominium ownership is ownership over the independent units of a completed building, such as flats, shops and storage units, each suitable for use on its own. Every unit is linked to a land share and to shares in the common areas, and may be transferred or mortgaged like a separate property.

Establishment requires an occupancy permit and registration at the land registry. Life in apartment buildings and housing estates is governed by the assembly of unit owners and, where present, the management plan; contribution to common expenses is mandatory according to the land shares or the plan. Alterations to common areas require the majorities prescribed by statute.

A buyer should examine not only the unit itself but also whether the land share was correctly determined, the management plan and any outstanding common-expense debts. Correction of land shares can become a separate dispute, particularly in urban regeneration processes.