I have condominium ownership – what exactly does that mean for me?

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Condominium ownership is a widespread form of property ownership in Switzerland. Condominium ownership is a special form of co-ownership and includes an exclusive right to use certain rooms in a property. There is a right of joint use of the common areas and facilities on the basis of normal co-ownership. The condominium owners’ meeting discusses and decides what affects all co-owners. The value quota determines the share of total ownership and the voting power of each co-owner.

The legal concept of condominium ownership

Whether as a main residence or as a holiday home – the so-called “condominium” is an integral part of the Swiss property market. The legal term for this special form of property ownership is condominium ownership. This term implies that the purchase of a condominium is linked to the acquisition of land ownership. Condominium ownership is established by entry in the land register. But what exactly is condominium ownership?

Condominium ownership – a special form of property ownership

According to the wording of the law, condominium ownership is a co-ownership share in a property with special features. It is already clear from this that a condominium, unlike a detached house, never represents sole ownership. There is always a majority of co-owners or at least coownership plots on such a property. The special feature of condominium ownership, in contrast to normal co-ownership, is that the co-owner has the special right to use certain parts of a building exclusively and to develop the interior. The object of the special right can be individual storeys or parts of storeys – i.e. flats or business premises; only in this sense do condominium owners have their own flat. The spatial distinction is made in the deed of condominium ownership or in the plans. This results in the value quota

You are free in the management, utilisation and structural design of your own rooms (i.e. coownership with your own special right). Here too, however, your own right is limited by the fact that the other co-owners are not excessively impaired in their rights; the general neighbourhood law applies with regard to noise, taste, visual restrictions or other emissions. The costs for the maintenance of the rooms in the special right are borne by each co-owner.

Share in all other parts of the property to the extent of the value quota

However, there is a second legal sphere in condominium ownership: the usability of the flats requires a number of other parts of the building and rooms. These constitute normal co-ownership and belong to all co-owners in proportion to their share of the value. This applies to the floor of the property. Furthermore, the entire static construction (foundations, masonry, façade, roof) and the general rooms and facilities such as the lift, heating, corridor and stairwell are common property.

Owners’ association

Each condominium owner is involved in the condominium owners’ association with regard to all costs for the ongoing maintenance and renewal of the common parts as well as the common facilities and equipment. They must make financial contributions in proportion to their value share.

The necessary decisions on the annual financial statements, budget, construction measures and other issues of importance to the community are taken at the annual meeting of condominium owners. A committee consisting of individual condominium owners and an internal or external auditor may be appointed. The management and utilisation regulations are authoritative.

Realisation

Condominium ownership is a complex structure. The acquisition of condominium ownership needs to be carefully scrutinised.