What is the meaning of Horizontal property? Concept, Definition of Horizontal property

Definition of Horizontal property

On this website you will find one or more meanings in your language for the word or expression: Horizontal property. As well as definitions of Wikipedia pages and other Web pages related to the word Horizontal property and, of course, synonym of Horizontal property with the appropriate images related to the use of this expression.

1. Concept of Horizontal property

The property is a legal institution which refers to the set of rules that regulate the division and organization of different properties, as a result of the segregation of a building or of a common ground.
In the horizontal property is not real estate in particular but a regime that regulates the way in which real estate and the relationship between the owners of private property and common goods which have been detached from the land or building is divided. The horizontal property allows the Organization of the joint owners and maintenance of common goods.
It is therefore that special sectional form of division of property that is exerted on homes, offices, shops, wineries, parking lots, industrial enclosures, sites and others in splitting into a condominium and that it attached to the holder of such units an absolute and exclusive on them, property right and a right of co-ownership enforced with respect to the common property.
Thus, along with the floor, horizontal property law includes a percentage of ownership of the common elements of all owners of flats in the building in question. Such items are considered necessary for the proper use and enjoyment of the floor, and the share that exist over them is completely inherent to the floor, still inseparable from this property.
The property is a mix of individual ownership and co-ownership. It is not a company, a partnership, an entity without any profit. It is a non-profit different from other non-profit entities. There may be individual ownership and co-ownership without any horizontal property and this is the case of the closed real estate units, which can also coexist within a real estate complex with horizontal properties. At the beginning of the last century, and until 1960, they were issued in many countries laws that sheltered both horizontal properties and the closed real estate units, which were called property law for flats and apartments, but then tended to issue individual for each type of property laws. In Colombia, the law 675 2001 dedicated the first titles to the horizontal property and the latter to the closed real estate units. Also called horizontal property condominium and permanent residency law.

2 Meaning of Horizontal property

Horizontal property, in its origin, is a special form of joint ownership between the owners of a building divided into flats. In it, own, proprietary elements coexist (floors, parking spaces, storerooms) with other elements staircases (stairways, gardens, lifts, portals, among others. Mode which regulates such relations of ownership, co-ownership and neighbourhood, are what have been called property tax in this way is called horizontal property division between different owners of the several floors of a building or of departments of a building one floor, which are independent and have access to publicdirectly or through common passage.
The Horizontal property is a special property that constitutes only about buildings divided into apartments or premises can be exploited independently.
The horizontal property has as main feature coexisting in it two kinds of property right. Right single apartment or local property, and a collective property right or the community that makes up the building, on the common areas of all construction.
In this type of construction, mandated by law, there should be a group of people that lead the way to manage the costs of maintenance of the building. You call this group condominium board.
It is also important to know that for a building there is legally the property, previously it should have been drafted and presented in the real estate registry office a document called document of condominium which is the document that building community. This document States among other things, the intention of the building constructor of it for sale for apartments or premises, specified usage going to give these apartments or premises, are designated the characteristics of the construction of the building, its size, number of floors, many personas will make up the Board of condominium, among others.
It is therefore that special sectional form of division of property that is exerted on homes, offices, shops, wineries, parking lots, industrial enclosures, sites and others in splitting into a condominium and that it attached to the holder of such units an absolute and exclusive on them, property right and a right of co-ownership enforced with respect to the common property.
Thus, along with the floor, horizontal property law includes a percentage of ownership of the common elements of all owners of flats in the building in question. Such items are considered necessary for the proper use and enjoyment of the floor, and the share that exist over them is completely inherent to the floor, still inseparable from this property.
In Venezuela, the law of Horizontal property system is constituted by law and was created by the decision of the owner or owners of a property, allocate it for the sale of apartments or premises. This decision must be expressed in authentic form and with the registration of the condominium document, before the Subalterna registry office.
This decision is established: for those buildings which are built under the Horizontal property regime. Buildings already built and occupied, provided the owner or owners decide to sell it under this modality.
Its regulation dates back to June 10, 1957, with the enactment of the law of Horizontal property per apartment. The Horizontal property law, which was amended on September 26, 1978 and on August 18, 1983 date was subsequently enacted in 1958. The latter, published in Official Gazette Extraordinary No. 3.241 which governs today.
Thus, the original horizontal property definition, found in the art.396 of the Civil Code. It is clear described above as well as the following: parties in co-ownership cannot be segregated, sold or seized separately, and are transmitted together with the proprietary element to which they are attached. Regarding this should be clarified that, in last instance, should do so with the unanimous agreement of the owners, the respect to the Horizontal property law and urban planning regulations.
There is no right of first refusal or withdrawal in the event of a sale by a co-owner of your apartment or premises. Here, I'd like to note that this is a clear difference with the other great regime of co-ownership which is known in Spain, the so-called undivided. In this, in which a good has some owners, whose rights are manifested by undivided shares (without concrete on any part of the good) is in which we are usually when there are several heirs, or when a couple of friends to buy a House. Thus, our right understands that such co-ownership in undivided is something transient, and articulated elements for ending it (scoring, redemption, auction proceedings rights). However, our law is clear as the Horizontal property, the so-called community of owners, are rather stable over time, and is frankly difficult to which this regime is extinguished.
Precisely for this reason, the Civil Code means that there must be specific regulation. And there we have the Horizontal property law, which regulates all matters relating to this type of ownership.
The condo was born from the moment that constitutes such a regime for a building, thing who is usually done in public deed to gain access to the land registry. Next to the Constitution, is also granted the statutes, which shall contain the rules for the exercise of property rights (eye, which may have strong limitations on the right to property), as well as all matters relating to Government of the building expenses, conservation, among others...It is very important that statutes are registered in the register of the property so they can affect third parties, although there are many communities which refer to the generic rules, the law of Horizontal property default.
He is assigned to each floor, each local, a share of participation in the property. That quota means that % involved owner in the common elements of the building. That quota is established based on useful meters of the apartment or premises in connection with the property, but is also taken into account its location, use, among others...Key is such fee, because that will determine, with possible modifications, the contribution to the common expenses of the building, as well as grant a vote weighted in the Board of proprietors.
And it is the owners is organized through a body, the Board of proprietors, where decisions affecting the life of the Community (art. 13 LPH), which meets once a year to approve budgets, without prejudice to other possible announcements are made. On the Board it also appoints the President, who is the legal representative of the community. In theory, it would be assisted by other fees, the Secretary, who would be responsible for the records and certificates, but which in practice has come to be replaced by professional and external figure of the administrator of estates.
The success of this figure has extended this type of status beyond the neighborhood blocks. It is very common, and thus picked him up the law in subsequent reforms (today in the article 24 of the LPH) the existence of real estate complexes, communities of owners of villas, or warehouses, where the property tax instead of distributed vertically makes it, precisely in horizontal, with common Interior elements (gardens, telecommunications, buildings, among others) commonly used for different owners.
According to the existing regulatory system, are things common to all (Art. 5 law of housing policy) apartments: all of the land that served as the basis for obtaining the corresponding construction permit; Foundations, master walls, structures, roofs, galleries, hallways, stairs, lifts and ways of input, output and communications; Roofs, patios or gardens. When these roofs, patios or gardens only have access through an apartment or local necessarily will be used exclusively by the owner Basements, except apartments and premises that has been built in accordance with the bylaws. If these basements have stands, deposits or porters will apply special provisions relating thereto; The premises intended for wing administration, monitoring or accommodation of porters or managers of the property; Premises and security works, sports playground, ornamental, reception or social gathering and other similar; The local and central facilities such as electricity, light, gas, hot and cold water, refrigeration, tank, tanks and water pumps and others similar; Incinerators of waste and in general all the artifacts, facilities, and existing equipment for the common benefit; Also the parking positions which are declared as such in the condominium document. This must be assigned at least one parking position to each one of the apartments or premises, case in which the post assigned to an apartment or premises may not be alienated or taxed but in conjunction with the respective apartment or premises. Stands that are not in the situation previously indicated, may alienate or taxed, preferably in favor of the owners, and, without the vote of seventy-five percent (75%) of them, may not be alienated or encumbered in favour of those who are not owners of apartment or premises of the building. In any case must always be used as stands. The National Executive, through special regulations, may authorize an assignment different from that set out in this article, in certain areas of a city and provided that urban development needs justify it.
The porters and deposits in general to be declared as such in the condominium document. This can be assigned one or more trunks or deposits determined each of the apartments or premises or any of them or one of them. In such cases the porters or deposits allocated to an apartment or premises may not be alienated or encumbered, but together with the respective apartment or premises; Any other parts of the property needed for the existence, security, hygienic conditions and conservation of the property, or to allow the use and enjoyment of all and each one of the apartments and premises; They will also be things common to all apartments and local, which expressly indicate it as such in the condominium document, and in particular apartments, premises, basements, tanks, boots or parking profitable, if any, whose fruits are intended for the total or partial payment of the common expenses.
His regime includes both the legislation that applies to the sale and purchase of apartments or business premises in Horizontal property as the provisions relating to the Constitution of the condominium document and the administration of the common things.

3. Definition of Horizontal property

The notion of property is used to name the right or the power to own something. In the legal context, the property is the direct power that a person has on a good and allowing you to dispose of the object freely, within the limits imposed by the law.
Horizontal, on the other hand, is parallel to the horizon or relative to it. The term is used in opposition to vertical, which is the straight line or plane perpendicular to the horizon.
Referred to as horizontal property law which is exerted on one or more flats, houses or premises of a building, that have been acquired by various owners separately but they share certain rights and obligations.
Horizontal property, therefore, is the legal institution linked to the division and the resulting properties of the segregation of a common construction organization. Such property regulates the way in which divides the property and its relationship with the rest of the public and private assets of the building.
In a building, therefore there are different owners. Each owner has one or more departments (also known as flats or apartments), but nobody is owner of the building in its entirety. Joins all these individual properties the common property of spaces such as the foyer, corridors, elevators, etc.
Horizontal property law assumes that the owner of a Department has a percentage of ownership of the common areas. This fee is inherent in the property of the Department and inseparable from it.