When buying a house, it is essential to understand the obligations related to the condominium, as these affect both family life and the monthly budget.
Since Law No. 8/2022 came into force in April 2022, which brought significant changes to the management of condominiums, doubts persist, especially with regard to responsibility for any debts.
Living in a condominium implies sharing responsibilities and decisions with the other owners, and problems such as debts of the condominium owners can compromise the Condominium's Common Reserve Fund, affecting the ability to carry out maintenance or improvements to the building.
Therefore, when purchasing a house, it is important to be informed about the condominium's obligations. The new law requires the presentation of a declaration, issued by the condominium management, detailing any debts associated with the unit you intend to purchase. Responsibility for the debts will be assigned based on the period in which they should have been paid.
It is important to note that if the buyer waives this declaration in the deed, he/she will assume responsibility for any debts owed by the seller to the condominium. Therefore, it is advisable that, before buying a house, you request detailed information from the seller or the real estate agent about the amount of the monthly installments, expected increases, annual budget, existing debts and the condominium regulations.
After the purchase, it is equally important to keep an eye on condominium issues to avoid surprises in the budget and ensure good coexistence between neighbors. To this end, owners must participate in condominium meetings, monitor the execution of the budget and be aware of any repairs that may require extraordinary contributions.
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Source: Supercasa
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