Buying a property on the Costa Blanca can be a dream come true, especially for foreign retirees looking to enjoy the climate, quality of life and beautiful beaches of this region. However, it is important to understand some legal aspects if the property you plan to buy is part of a community of owners.
What is a community of owners?
A homeowners’ association is a legal organization formed by all the owners of the homes in a building or development. Each owner has rights and responsibilities related to the common areas, such as swimming pools, gardens, elevators or garages.
When you purchase a property in a community, you automatically become a member of it, which implies complying with the rules and contributing to the common expenses.
Important documents to review before purchasing
Before completing the purchase of a home in a community, we recommend that you request and review the following documents:
- Community bylaws: These are the rules that govern living together and the use of common areas. For example, there may be rules about pets, use of swimming pools or noise schedules.
- Certificate of debts: This document, issued by the community administrator, ensures that the seller is up to date with the payments of community fees. If they are not, you could inherit those debts when you buy the property.
- Minutes of recent meetings: This will allow you to know if there are important pending decisions, such as renovations in the common areas that could involve additional payments.
Financial obligations of the owner
When living in a community of owners, you will have to pay periodic fees to cover maintenance and common services. These fees vary depending on the size of the property, the services included and the community agreements.
In addition, it is important to know if the community has extraordinary levies, which are additional payments to cover unforeseen expenses or special projects, such as structural improvements or renovations.
What happens if there are conflicts?
If problems arise with the community, such as disputes over rules or expenses, you can turn to a lawyer specializing in real estate law to mediate or take legal action.
At our office, we are here to help you understand and manage all the legal aspects of buying a home in Spain. If you have questions or need advice, do not hesitate to contact us.
Know your rights and enjoy your new home on the Costa Blanca with peace of mind!
