Condominium ownership is a widespread form of co-ownership in Switzerland. In a condominium, several purchasers own different parts of the same building and each has an exclusive right to certain parts of the building.
A constitutive act allows the creation and validity of the condominium. For this purpose, an authenticated deed is drawn up by a notary and each property constituting the condominium is registered in the land register. Thus, each co-owner has a separate sheet and a separate number.
In a condominium, there are two kinds of distinct parts:
Each condominium is divided into quotas, distributed among the co-owners, which are calculated in thousandths of the total value of the building. Each lot or property unit represents a certain number of thousandths. The quotas are used to distribute the common expenses and the number of votes at the general meetings.
Each condominium must have a general assembly that includes all the co-owners as well as an administrator. The latter can be one of the co-owners or an external professional. The administrator is responsible for managing the co-ownership's finances, various requests, any work that may be required and also for organizing the meetings. A regulation mentioning the common and private parts as well as the rights of each one can also be written. However, it is not mandatory.
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