The Property Co-Ownership Agreement is essential for properties in Belgium where multiple parties share ownership rights and responsibilities. It is primarily used when establishing new co-ownership arrangements or updating existing ones, particularly in apartment buildings, mixed-use developments, or shared commercial spaces. The document must comply with Belgian Civil Code requirements and recent property law reforms, including the 2018 modifications to co-ownership regulations. It serves as the foundational document for property management, covering aspects such as ownership shares, common area management, financial contributions, and decision-making procedures. This agreement is particularly important given Belgium's complex regional property regulations and the need for clear governance structures in co-owned properties.
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1. Parties: Identification and details of all co-owners entering into the agreement
2. Background: Context of the co-ownership arrangement and description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including common and private areas
5. Ownership Shares: Specification of each owner's share in the property and calculation method
6. Rights and Obligations: Detailed rights and obligations of co-owners regarding property use and maintenance
7. Common Areas: Definition and rules regarding common areas and facilities
8. Management Structure: Governance structure including appointment of property manager and decision-making processes
9. Financial Provisions: Cost sharing, maintenance contributions, and financial management procedures
10. Decision Making: Voting rights, meeting procedures, and majority requirements for different types of decisions
11. Insurance: Required insurance coverage and responsibility for premiums
12. Dispute Resolution: Procedures for resolving disputes between co-owners
13. Duration and Termination: Terms regarding the duration of the agreement and conditions for termination
1. Commercial Use: Specific provisions for properties with mixed residential and commercial use
2. Rental Provisions: Rules regarding renting out individual units, to be included if rental is permitted
3. Building Works: Detailed procedures for major renovations or structural changes, necessary for older properties
4. Sustainability Measures: Environmental and energy efficiency requirements, relevant for modern buildings
5. Special Facilities: Rules for special amenities like swimming pools or gyms, if applicable
6. Parking Management: Specific rules for parking spaces and their allocation, if relevant
7. Pet Policy: Rules regarding keeping pets in the property, if necessary to regulate
1. Property Plans: Detailed architectural plans showing private and common areas
2. Ownership Schedule: Detailed breakdown of ownership percentages and contribution quotas
3. House Rules: Detailed rules for day-to-day operation and use of the property
4. Maintenance Schedule: Regular maintenance requirements and responsibilities
5. Cost Allocation Table: Detailed breakdown of how different costs are allocated among co-owners
6. Insurance Specifications: Detailed insurance requirements and coverage specifications
7. Property Manager Duties: Detailed list of property manager responsibilities and procedures
8. Technical Specifications: Technical details of building systems and maintenance requirements
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