Property law change debated

Debts to be declared on apartment sales

Horizontal Property Law applies to condominiums

The Diario reports on a recent property law change that may impact a number of readers who are involved in the property market in Madeira – particularly those with apartments in condominiums (horizontal property regimes).

The “Regional Council of Madeira of the Portuguese Bar Association” and the “Commercial and Industrial Association of Funchal” will hold a conference on the 2nd of May, at 10:00 am, in the Auditorium of the Regional Council of Madeira, on the theme “The recent changes to the horizontal property regime”, with the lecture being conducted by the Lawyer, Professor and Deputy to the Assembly of the Republic, Mrs Marcia Passos.

Property Law 8/2022, of January 10, which amended the Civil Code, as well as the Notary Code, and which came into force on April 9, now requires, in particular, that in the sale of a fraction, a statement must be presented, issued by the condominium administrator, which must include the nature of the fraction, the amounts of the charges, the respective payment terms and, also, mention must be made of any debts to the condominium with the breakdown of the nature, amounts , incorporation and expiration dates.

This event will take place in person and, simultaneously, on the Zoom platform, in Webinar format, the program shown in the linked poster. Participation via Zoom is subject to registration via the link https://us02web.zoom.us/webinar/register/M’N 2zk6wItG6yUEg and the conference will be broadcast on the Madeira Regional Council’s YouTube channel.

COVID-19 in Madeira: updates can be found in an earlier post

3 thoughts on “Property law change debated”

  1. I’ve read this three times and still do not have a clue what it means!😁😁 Not sure if it loses something in translation or it is just mind-boggling bureaucracy.

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    • I sold my apartment on 28th January 2022 and this was asked for by the purchases solicitor and
      my estate agent at the time of signing or the sale would NOT happen !!.

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      Reply

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