Co-ownership reform: Ministerial Order No. 2022-588 implementing Articles 12 and 21 of Law No. 1.329 as amended

Administration of the co-ownership: Ministerial Order no. 2022-588 of 8 November 2022 applies articles 11 and 21 of Law no. 1.329 of 8 January 2007 relating to co-ownership of built-up areas, as amended.

— When the assembly is called upon to deliberate on the question of works or expenses, estimates must be attached to the convocation when the amount of the works is greater than the amount set by ministerial order no. 2022-588 (application of art. 11, paragraph 3 of Law no. 1.329), as follows [of immediate application]:

• 10,000 € when the building has less than ten main lots ;
• 20,000 € when the building has between ten and twenty main lots;
• 50,000 € when the building has more than twenty main lots.

The term "main lots" (used above as a reference element) should be understood to mean flats, offices, commercial and professional premises, to the exclusion of any other lot.

— The syndic (managing agent) must draw up and keep up to date documentation on the building, which includes the essential financial and technical data relating to the co-ownership and its buildings, a non-exhaustive list of which is defined by Ministerial Order no. 2022-588, namely [immediate application]:

1° The following elements of identification of the co-ownership:

a) The common name, if any, and the address or addresses of the syndicate of co-owners (syndicat des copropriétaires);

b) The address or addresses of the building or buildings (if different from that of the syndicate);

c) The Statistical Identification Number (NIS) of the syndicate of co-owners assigned by the Monegasque Institute of Statistics and Economic Studies (IMSEE) and, if applicable, the date of the last update of the identification data;

d) The date of establishment of the co-ownership regulations;

2° The identification details of the syndic or provisional administrator in charge of drawing up the documentation as follows:

a) The name and address of the legal representative of the co-ownership;

b) Where applicable, the registration number of the legal representative;

c) The nature of the representative's intervention (syndic mandate or temporary administrator mission);

3° The following data relating to the legal organisation of the co-ownership:

a) The nature of the syndicate (main or secondary), if applicable;

b) If it is a secondary syndicate, the Statistical Identification Number (NIS) allocated by the Monegasque Institute of Statistics and Economic Studies (IMSEE);

4° The following technical characteristics of the co-ownership:

a) The total number of lots listed in the co-ownership regulations, as well as their nature or use;

b) The number of buildings;

c) The period of construction of the buildings;

5° The following equipment of the co-ownership:

a) The type of hot water production, heating and air conditioning used

b) The number of lifts;

6° The following financial characteristics of the co-ownership:

a) In the case of a first accounting period (when the accounts have not yet been approved by the general meeting): the start and end dates of the accounting period;

b) In the case of a closed accounting period for which the accounts have been approved by the general assembly:

- The start and end dates of the accounting period and the date of the general meeting which approved the accounts;

- The amount of charges for current operations;

- The amount of expenses for exceptional works and operations;

- The amount of supplier, remuneration and other debts;

- The amount of unpaid debts;

- The number of co-owners who are debtors to the syndicate;

- The amount of the reserve fund;

- The amount of the working capital;

c) The presence of staff employed by the syndicate of co-owners.

— The professional syndic makes available in the secure online space accessible to all the co-owners documents whose minimum list is set by Ministerial Order n° 2022-588 [effective three months after the publication of this order] :

I - The minimum list of documents relating to the management of the building, made available by the professional syndic in the secure online space accessible to all co-owners, as provided for in the eighth paragraph of article 21 of the aforementioned law n° 1.329 of 8th January 2007, as amended, is as follows:

1° The co-ownership regulations, the descriptive statement of division and the acts amending them;

2° The documentation referred to in Article 2 of this ministerial order;

3° The maintenance booklet which lists technical information relating to maintenance and work carried out in the building;

4° Valid technical diagnoses relating to the common parts of the building;

5° A certificate of the insurance contract for the building concluded by the syndic in the name of the syndicate of co-owners, currently valid, indicating the guarantees and deductibles subscribed to;

6° The minutes of the last three annual general meetings called to examine the accounts and, where applicable, the estimate of work approved at these meetings;

7° Court summonses issued in the name of and against the syndicate of co-owners relating to legal proceedings in progress and court decisions for which the time limits for appeal have not expired;

8° The certificate of professional liability insurance of the syndic as well as his valid financial guarantee certificate.

II - The minimum list of documents relating to a co-owner's lot, made available by the professional syndic in the secure online space, is as follows:

1° The individual account of the co-owner drawn up after the approval of the syndicate's accounts by the annual general meeting;

2° The amount of current charges from the provisional budget and charges outside the provisional budget, for the last two closed accounting periods, paid by the co-owner;

3° Where the community of co-owners has a working capital fund, the amount of the working capital fund attached to the co-owner's lot as determined after approval of the community's accounts by the annual general meeting;

4° The notices of call for funds sent to the co-owner for the last three years.