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Home -> Common Ownership Law Cyprus

Common Ownership Law Cyprus

Common Funds Administration Committee The Law

By Andrew Sharpe

Some new property owners may not realise that payment of common funds expenses to your administration committee (with communal living - apartments blocks or complexes) is mandatory under the law of Common Ownership in Cyprus. Law no.6/(I) of 1993 as published in the Gazette of the Cyprus Republic dated 12/2/1993: We have had this question raised recently and below are the main laws translated in to English but not the complete list. As always, discuss these points in detail with your lawyer in Cyprus or, drop us an email.

1. The payment of common expenses is obligatory and must be paid immediately upon presentation of your share of the costs. Prompt payment of course helps run the project better and amenities are available always to the purchasers. The share of the common expenses is according to the extent [sq.m.] of each unit. Section 381A - (1) of the law.

2. The Administrator Committee has the right to sue the purchaser for non-payment of the common expenses. Section 381A- (2) of the law.

3. The Administrative Committee is obliged to insure the properties (construction wise only) including Common Areas for Fire-Earthquake-Thunder. Section 381B- (1) of the law.

4. Every structure of 5 units and up is classed as a complex and must have an Administrative Commuttee. Section 38KB of the law.

5. The Administrative Committee will act for the part and on behalf of the purchasers and must implement all the rules and regulations according to the law. Section 38KST. -(1) of the law.

6. Every purchaser can make internal changes, additions to their property, provided that:

a) Do not impose or curtail the right of other purchasers.

b) Does not affect the common areas of the project.

c) Does not affect the external wall of the project, the overall appearance of the project and does not affect the security of the structure.

d) Inform the Administrative Committee and the Architect of the project before the instigation of changes.

Sect.4 of part IV of the law.

7. The Administrator is obliged to submit 3 monthly statements of the costs incurred during the previous three months. For easier collection, the Administrator makes out monthly statements of the Common Expenses. Section 6 of Part IV of the law.

8. No purchaser is allowed to use the property:

i ) For unlawful purposes.

ii) Change the use/purpose of the property.

iii) To create noise/disturbance/bad smells; use of chemicals that are bad for the health of people and animals.

iv) Change the outside of the property in such a way that can influence the enjoyment by the other purchasers and make the appearance of the complex worse, bad taste and loss of the elegance of the complex and the Architectural design.

 


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