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Q2/2009 Condominium ownership |
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The Condominium Ownership Law was amended on 23 June 2009 to enter into force as of 6 July 2009. The new regime removes the monetary fine introduced in 2007 against the failure to establish condominium ownership within two years from the grant of the occupancy permit. On the other hand, as per the amendments in the Law, condominium ownership may be formed either (i) upon the request of the land owner or one of the easement right holders or (ii) ex-officio by the relevant authority, on the condition that the occupancy permit has been obtained.
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