Jalisco Condo Law in English - Second Edition (Paperback)

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Jalisco Condo Law in English - Second Edition (Paperback)

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State law has regulated condos in Jalisco since 1995, and is binding on both the condo administration and all owners. Would it surprise you to learn that many condos don't follow the Jalisco condo laws? This should concern you, because it exposes your condo to potential consequences down the road that could result in financial costs or decreased property values. MANY CONDOS: don't correctly collect condo fees; don't hold proper owners meetings; don't carry out proper votes at these meetings; or don't have a correct administrative structure. WHY DOES THIS PROBLEM EXIST? In most condos in Canada or the US, there's high compliance with provincial and state condo laws. The same does not occur in Mexico - especially amongst condos that are run by foreigners. The administration of these condos is often unaware of the details of the condo legislation - in some cases, the Board is unaware of the very existence of the law. If you're an owner, or if you're part of your condo's administration, you need to know what the law says, and what the proper procedures are. If you're considering buying a condo, you need the knowledge to find out if the condo is being run properly - before you buy into potential trouble. THE PROBLEM . . . The condo legislation is written in Spanish, and there's no high-quality translation designed for use by foreigner-run condo administrations. THE SOLUTION . . . This book contains the complete text of the Jalisco condo law translated into English. It's presented in a unique side-by-side format, with both Spanish and English paragraphs perfectly synchronised. You can always refer to the original Spanish at any time. As well as a high quality translation, there are in-line comments and notes to help clarify certain passages, issues, and legal terms. A few of the topics covered by the condo legislation, and contained in this translation: types of condominiums & how they're created; format of the condo by-laws; definition of common property; rights and duties of owners; repairs, maintenance, and improvement work; duties and authority of Administrator & Council (Board); types of owners meetings and their purpose; voting at each type of meeting - they differ significantly; fees: - their purpose and how they should be assessed - including a requirement for reserves; Late penalties for delinquent owners; disputes between owners; and debt collection & suing a delinquent owner. This book also contains translations of other legislation related to condo management and day-today operation: limitations on collecting debts, income tax & IVA, property auctions, injunctions, powers of attorney & proxies, legal signatures, obligations of neighbours, co-ownership, public registration of documents, legal entities, associations, and sanctions.
Product Details ISBN: 9780981353340
ISBN-10: 0981353347
Publisher: Jaliscocondos.Org
Publication Date: April 6th, 2015
Pages: 264
Language: English