Real Estate
Split apartment rights
When buying a home that is part of a larger building, you purchase a so-called apartment right. This means that you actually purchase two things from a legal point of view: a share in joint ownership of the entire building and the right to use your home. You are then the owner of the entire building together with all other apartment residents. There are therefore rules that all owners must adhere to.
An apartment right is created by dividing a building into smaller areas of use. In other words: split into apartment rights. Our notaries draw up a so-called division deed, which includes a drawing. The plan clearly shows the boundaries between the various apartments and those of the common areas. All apartment owners are therefore jointly the owners of the entire building. As a co-owner, an occupant may therefore use all communal spaces. These are for example: an inner garden, roof terrace, staircase or hall.
Division deed
Apartment rights can vary in size and shape. It can also be a park with holiday homes or a large complex with shops and houses. The division drawing and the division deed are entered together in the public registers at the Land Registry. These can be accessed and viewed by anyone. In case of misunderstandings, among other things, these documents can provide clarity about who the owner is.
Rules of division
One of the most important parts of the split deed is the split rules. This contains rules of conduct for owners and residents. For common areas, such as corridors, stairs, the hall, a roof terrace and a surrounding garden, the regulations contain a number of usage provisions. The compulsory financial contribution to common maintenance and operating costs and technical installations, such as lifts and foundation, are also discussed. In general, all apartment owners must contribute to the common costs. After all, you are the owner of the entire building. The owner of a penthouse must therefore also pay for the maintenance of the sewer system and the owner of the ground floor also for the maintenance of the roof.
Owners Association
Every apartment owner is required to become a member of the Owners Association. The purpose of the Owners Association is to represent the common interests of the apartment owners. This includes maintenance of the spaces used by all owners. The association is required to maintain a reserve fund for future maintenance costs. The Owners Association consists of a board and a members’ meeting. The board takes care of the daily course of affairs, such as the implementation of repairs and maintenance. You can also turn to the board for complaints about leaks or broken heating. In short: in all matters relating to the maintenance of the building and the communal installations.
Split complex real estate
Meijer Notarissen has extensive expertise in splitting complicated real estate. For example, buildings with housing, parking facilities, office and retail space. When setting up the split, it is also crucial to examine future exploitability. The same applies to any expansion requirements with regard to parts of the building.
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