The law for “the acceleration and simplification of degraded housing and major development operations” of April 10, 2024, originally intended to resolve the problems of small degraded buildings in the city center, ultimately includes measures which concern all co-ownerships. The objective: to improve the operation of co-ownerships and facilitate the carrying out of maintenance work.
A collective loan applying to everyone
One of the key measures of the text is the reform of the collective loan in co-ownership, to finance the work. When the general meeting of co-owners votes on the principle, it is subscribed for everyone, whereas until now, if the meeting accepted this credit, it only applied to the co-owners who wished to subscribe to it.
From now on, the co-owner refusing to participate in the loan must send a registered letter to the trustee within two months of receipt of the minutes of the general meeting. He must also pay the trustee his entire share of the work within six months of receipt of this document. The text even provides that the co-owner pays the sums linked to the interest on the loan and the trustee’s fees.
Credit management should be simpler for banks, who will have the trustee as the sole contact rather than various co-owners. “This reform was necessary because, without the banks, we will not be able to finance the work, particularly in terms of energy saving”, insists Danielle Dubrac, president of the Union of Real Estate Unions. Before granting a loan, the bank will ensure the good financial health of the co-ownership and can also verify that of the co-owners individually. This means that co-owners in difficulty will often have to find another solution to finance their work.
Other new features: “In the event of sale of the apartment, the credit will be automatically transferred to successive buyers. It is therefore attached to the lot and not to the co-owner”notes Eric Audineau, lawyer at Audineau et associés.
Unpaid charges easier to recover
Many co-ownerships have unpaid charges. Until now, to recover these sums, the trustee had to go through an often long and costly legal procedure. From now on, the process should be easier: to recover the amount due, the trustee can have the debt recorded by a court commissioner (new name for bailiffs) so that it becomes due and can block the owner’s bank account debtor.
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