New co-ownerships concerned
Condominiums built more than 10 years ago must have set up a works fund. This applies to co-ownerships with more than 200 lots from 1 January 2023, and to co-ownerships with between 51 and 200 lots from 1 January 2024. From 1 January 2025, co-ownerships with no more than 50 lots will be subject to this obligation. The aim of the fund is to finance work decided on by the managing agent in emergencies, work required to protect the building and the health and safety of its occupants, and work set out in the multi-year works plan (PPT). The fund is financed by a compulsory annual contribution paid by each co-owner into a bank account opened by the co-ownership association. Note that these sums cannot be recovered by a co-owner who sells his or her flat, for example.
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