Issue #3 · created by Wav

Who is responsible for the community expenses after selling the bare property?

Real estate - like some others - is susceptible to being negotiated separately in the two aspects that unites full ownership. This can be divided into bare ownership and usufruct, the original owner being able to negotiate, decide to reserve one of these for himself. Hence the importance of establishing who is responsible for community expenses in the bare property.

When negotiating the bare property with a third party, the full owner loses title to the property and preserves the right to use and enjoy it for a stipulated time or for life. In this case, it is necessary to know how to clearly differentiate the responsibilities assumed by each of the actors in their new role.

Although it is commonly misleading, in principle we must say that the law is very intuitive in this regard. The norm dictates something that common sense can also intuit, and that is that each one assumes the expenses and responsibilities inherent to the part of the property they own.

This implies - as established by articles 504 and 505 of the civil code - that each one will meet the obligations corresponding to their possession. In other words, the expenses associated with the use and enjoyment of the real estate will be taken care of by the usufructuary, while those related to ownership must be honored by the bare owner.

Other less clear limits

So far so good. The point is that, in certain cases, the limits between expenses or expenditures that have to do between one aspect of the property and another are not always so well defined and disagreements occur between both parties, which sometimes must be resolved through specialized consultations or, in the last case, in court.

It is the obligation of the bare owner to cancel the amounts indicated by law regarding the increase in equity that this new ownership implies. As we know, there is a way to calculate the value of the bare property for these purposes and the wealth tax that derives from there will be the full responsibility of the person who acquires it.

As well as this tax —which is paid at the time of negotiation—, any other that arises from the fact of being the owner of the deeds will be the sole responsibility of the bare owner. In general, it will attend to the obligations related to the capital that the value of the property represents, which increases its assets.

Obligations of the usufructarian

On the other hand, the usufructuary will be the one who must meet all the expenses and obligations related to exercising their right to the enjoyment of the residence, premises or office from which they benefit.

This includes the amounts that are required by the community for the condominium, cost of services, expenses that arise to cover the maintenance of the place and any other disbursement that is related to the natural wear and tear of the property.

Likewise, the usufructuary must face the respective tax burdens when he decides to take advantage of the thing usufruct and, for example, receives income from it. This is perfectly possible and legal to do; however, the application of the respective income tax is foreseen.

It is seen then that the usufructuary is the one who must be responsible for all the obligations that arise from the exercise of their right, which includes community expenses, contributions for minor repairs and those that by their nature are inherent to their condition of beneficiary of the use. and enjoy. strives to be Pakistan's biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. For further detail visit nova city location

When there are major repairs that compromise the structure of the thing transferred, it is the owner who must assume the costs that have to be disbursed.

However, since both the bare owner and the usufructuary are in solidarity with the purpose of preserving the property in good condition, it is often customary to take an insurance policy against natural disasters or other special risks, each party paying the proportion of the premium. Which corresponds to the total value of the good that each one has assumed?

2 participants

Assignee: Wav

Milestone: none

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