When
buying and selling real estate, especially when it comes to condominium apartments, managing condominium expenses is a crucial aspect. Among the documents needed to complete the sale, the release for condominium expenses plays a fundamental role. This document, issued by the condominium administrator, certifies the status of the payments related to the condominium charges up to the date of the act of sale. Let’s examine in detail what the release is, how to request it and what its implications are in the
draft.
What is the Condominium Expense Release?
The release for condominium expenses is an official document issued by the condominium administrator that certifies the absence of condominium debts on the part of the seller owner until the date of the draft. This document is essential to ensure that all condominium expenses have been regularly paid, avoiding future disputes between the seller and the buyer
.
Differences between Release and Payment Certificate
Although commonly called a ‘release’, in reality it is a certificate of the state of condominium payments. A real release is a document with which a creditor declares that he no longer asks the debtor for a certain amount. In the condominium context, on the other hand, it is simply certified that all expenses have been paid up to a certain date
.
How to Request a Release
The request for the release must be made by the seller owner. Here are the steps to follow:
- Formal Request: The seller must submit a written request to the condominium administrator, specifying the need to obtain a waiver for the draft.
- Payment Control: The administrator checks the status of the condominium payments, including any extraordinary charges.
- Issuance of the Document: If all expenses have been paid, the administrator issues a release certifying the absence of debts.
Who Pays for the Liberation?
According to the fourth paragraph of Article 63 of the Provisions for the Implementation of the Civil Code, “whoever takes over the rights of a condominium is jointly and severally obligated to pay contributions for the current year and the previous year.” Consequently, the obligation to request and pay for the issuance of the release falls on the seller, but the condominium expenses pending at the time of the draft may also be requested from the new owner
.
Importance of the Release for the Deed
The release is essential to ensure transparency in the purchase and sale of real estate. Without it, the notary cannot proceed with the signing of the bill of sale. This document prevents any future disputes, ensuring that all condominium expenses have been properly managed. The role of the notary is crucial in this process, as it ensures that all documents are in order and that the transaction takes place without legal problems
.
Facsimile Model of the Condominium Expenses Release
Here is an example of a release for condominium expenses, useful as a reference to better understand the content of the document:
SUBJECT: SITUATION OF CONDOMINIUM INSTALLMENT PAYMENTS AT… /…/…
Real estate units owned by you located in the Condominium located in… Via… Nr… Cap…
With reference to the topic in question and in response to your kind request, the undersigned Mr./Mrs…., as pro tempore administrator of the condominium of… Via… Nr… Cap…
…, after careful accounting control, certifies that as of today all ordinary and extraordinary condominium installments issued by this
Administration are regularly paid.
Please note that this statement does not constitute a release of condominium payments, but represents only a certification of the same and cannot, therefore, be opposed to the writer in the event of any shares or debts that may arise in the future (such as adjustments relating to previous operations whose Final Statements have not yet been approved), even if they refer to the period under his ownership.
Any such amounts will be requested from the new owner (who views this communication), without prejudice to the latter’s right to retaliate against the seller. This note must be attached to the notarial document concerning the real estate units
in question.
I remain at your disposal for any further clarification you may need and I offer my best regards.
Place and date…
THE ADMINISTRATOR…
Managing the release for condominium expenses is an essential step in buying and selling real estate. Ensuring that all expenses are clearly defined and settled is critical to avoiding legal issues and ensuring a transparent transaction. The condominium administrator and notary play crucial roles in this process, ensuring that all necessary documents are in order and that the sale can
go smoothly.