WHAT THE HORIZONTAL DIVISION DEED MEANS
When we talk about a building, we also talk about a community of owners
In a simple way, the horizontal property of a building is the legal act, or rather the deed in which it is recorded how a property is divided into several independent properties.
According to the Horizontal Property Act, the horizontal division of a building leads to the birth of the community of owners.
In addition to dividing a property into independent properties, it also serves to determine the private and common spaces of the owners of a building or community, to be established and guarantee the legal coexistence of the entire complex.
The participation that each owner has in relation to the entire building or complex will also be specified as a percentage.
WHAT IT IS FOR
As mentioned, this document establishes the relationship between private and common elements within a high-rise residential complex, building and therefore community of owners.
Each part or property must be responsible for the proportional part that corresponds to it of the whole. In addition to paying the fees corresponding to the maintenance and good development of the community.
Emphasize that this deed is for a high-rise building and for real estate complexes that share the same private and shared space.
LEGISLATION AND REQUIREMENTS
This document is regulated by Law 49/1960 of July 21 on horizontal property.
The steps to carry out the horizontal division are:
1.- Prepare the project.
2.- Municipal license.
3.- Declaration writing.
4.- Property Registry and cadastre.
A large amount of documents must be provided to be able to carry out the Horizontal Division:
- Title deed
- Building license
- New construction certificate
- Energy efficiency certificate
- Certificate of occupancy
- Property description
- Description of communal elements
- Descriptive plan of the property
- Statutes or rules of the community
- Reservations of rights or powers
- Horizontal division license
- Deed of new construction and horizontal division
- Property registration note
- File card and cadastral value
- IBI receipt
- Real Estate Appraisal
- Certificate of construction completion
The Horizontal Division deed is signed in a Notary and subsequently registered in the corresponding Property Registry.
How to get a copy
Property administrators need to have a copy of the horizontal division of a building or residential complex.
In order to request a copy, you can request it from the corresponding Property Registry according to the location of the property.
Different public documents must be provided in order to get a copy: judicial, notarial and administrative documents of the people who want to have access to a copy.