Division into flat rights

When you buy flat rights, you have to deal with division into flats. But also when you own a building and want to transfer part of it. As soon as you cannot cut the part in question like a pie slice from top to bottom, the building will first have to be divided into flat rights.

Owner of flat rights

As the owner of one or more flat rights, you become the owner of part of the entire building and have the exclusive right of use of a part of it. That part is also referred to as the flat in houses. Formally, however, you are not the sole owner of it, as you own each part of the building for a certain share. For a prospective owner of a flat right, it is therefore very important to have the division deed properly assessed. Only then will you know what your rights and obligations as an owner are.

Owners' Association

As a flat owner, you are automatically a member of the association of owners (VvE). The purpose of the VvE is to manage the building. Although the VvE is obliged to set up a reserve fund for future maintenance costs, in practice it often happens that there is none. If the VvE does not have an adequate reserve fund, all owners will have to contribute in proportion to their share at the time of a major expense. This can be problematic for some owners, preventing necessary maintenance from being carried out. With all the attendant problems. When you buy flat rights, it sometimes seems convenient that the VvE contribution is low. But a low contribution often also means that there is no reserve fund. As a result, you can then subsequently be faced with a co-owner who cannot pay his share of the costs.

Count on years of experience

Over the years, we have built up a lot of experience in subdividing more complicated buildings and real estate-house-and-mortgage/auction-of-real estate">real estate. Such as complexes containing housing, parking facilities, office and retail space, which are seemingly separate sections but which intertwine in many ways. When setting up the subdivision, it is then very important to consider the future exploitability and possible expansion needs regarding parts of the building. Without that, an individual owner can block such things in a large number of cases. For more information on buying flats or subdividing into flat rights, please contact Kooijman Autar on +31 (0)10 285 88 88.