Moldova to have new law of condominium
15:40 | 08.11.2018 Category: Economic
Chisinau, 8 November /MOLDPRES/ - The cabinet of ministers at a today’s meeting gave a positive note to a draft law on condominium. The new legislative act will replace the present law on condominium in the dwellings fund, which proved to be obsolete and inefficient, the Economics and Infrastructure Ministry has reported.
The current law is applicable only within the blocks of flats and in relations with apartment owners, but not also in relation with other owners of isolated rooms within multi-storied buildings. One of the fundamental problems, the ministry refers to, is that the law does not provides for a mechanism of establishing the shares of the owners of apartments on the joint assets of the condominium.
Despite the fact that, de jure, the joint assets of the condominium are owned by the apartment owners, as well as by other owners of isolated rooms at multi-storied buildings, they continue to be recorded at the territorial cadastral office in the register of real estate as owned by the state or administrative and territorial units, and not in the joint property according to shares.
The legislation on the privatization of the dwellings fund, adopted in 1990s, was focused only on the turning private of apartments and other rooms; yet, it failed to settle till the end the problem of property over the ground and the joint parts of the blocks of flats. Besides the uncertainty as to the belonging of the property on the ground and the joint parts of the building, there is also the fact that the flat owners have not perception of property over the ground and joint parts of the building; they do not want to arrange it and to cover the related expenses.
According to the draft’s authors, the new law on condominium will create a more efficient and more adequate economic and social environment for the exploitation and maintenance of the dwellings fund. The compulsory state registration of the common title to the joint assets of the condominium, according to shares, compulsory establishment of the fund for the repair and development from condominium, as well as the compulsory financial contribution of the owners of units at its creation, transparent management of the fund’s means will motivate the interest of the owners of units to manage their property as efficiently as possible, including the joint spaces of the condominium.
The draft law is to be submitted to parliament for consideration.
(Reporter V. Bercu, editor M. Jantovan)