Juristic person — what it means
The Condominium Juristic Person is the building’s legal entity acting for all co-owners: it collects CAM fees, runs the budget and maintains common areas. Its quality directly drives the building’s condition and resale prices.
The juristic person’s role under the Condominium Act
The Condominium Juristic Person is created when the condominium is registered and acts on behalf of all co-owners: it collects CAM fees and the sinking fund, runs the budget, hires the manager and service companies, and looks after the common areas. Key decisions are taken by the owners’ general meeting, where votes are weighted by share of area.
Why it matters when buying
On a transfer of title, the Land Department requires the juristic person’s certificate that the unit carries no arrears — without it the deal will not be registered. The quality of management shows in the state of the common areas, the size of the reserves and the collection rate of fees — and therefore in the complex’s resale prices. Request the budget and the meeting minutes before buying.
How this works with us
For secondary-market deals we request the arrears certificate from the juristic person in advance and clarify the building’s rules: restrictions on letting, pets, renovation. For new builds we explain how the management budget takes shape after completion and what payments await the owner from year one.
Frequently asked questions
How does the juristic person differ from a management company?
The juristic person is the owners’ own legal entity, required by law; it may hire and replace a management company. Final decisions rest with the owners at the general meeting.
What is a debt-free certificate?
The juristic person’s statement that the unit carries no CAM or other arrears. Without it, the Land Department will not register the transfer of title.
Primary source: DBD — Department of Business Development
See it on a real property
Terms matter when there is an actual deal behind them. We will show how this one works on a project from the catalogue — documents and numbers included.
Browse the catalogue