Developers in Costa del Sol are legally obligated under the Horizontal Property Law to establish the community of owners and register its statutes before property sales. They must disclose each property's pro-rata share of common expenses, providing this information in the private purchase agreement or during due diligence. Additionally, developers are required to furnish a certificate of solvency confirming the property's good standing regarding community payments at the point of sale. This ensures new owners are not burdened with pre-existing debts. Buyers should engage an independent lawyer to verify all disclosures, protecting against unforeseen financial liabilities associated with community fees, as inadequate transparency can lead to significant legal and financial issues.
Developers in Costa del Sol have specific legal obligations concerning community fees, primarily under Spanish Horizontal Property Law (Ley de Propiedad Horizontal). Before the sale of units, developers must establish the community of owners (Comunidad de Propietarios) and register its statutes, which outline the rules governing the community and the method for calculating community fees. While they don't always provide a detailed 'budget' for the first few years, they are legally required to disclose the pro-rata share of common expenses attributed to each property, ensuring purchasers understand their initial contribution obligations. This information should be clearly stated in the private purchase agreement (contrato de compraventa) or made available during the due diligence process. Developers are also expected to provide a certificate of solvency demonstrating that the property is up-to-date with community payments at the time of sale, ensuring the new owner doesn't inherit existing debts. Failure to adequately disclose or misrepresent these costs can lead to legal issues for the developer, as buyers rely on this information to assess the true cost of ownership. It is crucial for buyers to engage an independent lawyer to verify all disclosed information and ensure compliance with legal requirements, protecting against unforeseen financial burdens related to community fees.
