Overview of Act on Building Unit Ownership, etc.
I'd like to provide an overview of Act on Building Unit Ownership, etc.
Real estate is land and buildings.
However, nowadays, large condominiums are being built and many people are living in the same building.
Each room in a condominium can be the object of ownership.
Act on Building Unit Ownership, etc. is a law concerning condominiums.
Condominiums have both exclusive elements and common elements.
The elevators, stairs, and corridors used by everyone are the common elements.
The key to condominium management is the management association composed of all unit owners.
There are many things that are necessary to maintain and manage a condominium, such as establishing management bylaw, cleaning, equipment inspection, repairs, and accounting for management fees.
Many things related to condominiums are regulated by this Act.
Incidentally, the relationship between Civil Code and Act on Building Unit Ownership, etc. is that of a general law and a special law.
In the past, Japan had only wooden one-story buildings, and there were no condominiums.
However, with the development of the economy and the advancement of technology, it became possible to build large condominiums, and Civil Code alone could not cope with the situation, so this law was established.
This can also be said to be a product of the change in the time period.
As an aside, there is a saying in the real estate industry: "Buy the management of the condominium."
When it comes to condominiums, the fact that they are properly managed by serious people is more important and gratifying than the value of the building and site itself.
- To read this article in Japanese
- To return to Introductory course in Japanese real estate laws
Real estate is land and buildings.
However, nowadays, large condominiums are being built and many people are living in the same building.
Each room in a condominium can be the object of ownership.
Act on Building Unit Ownership, etc. is a law concerning condominiums.
Condominiums have both exclusive elements and common elements.
The elevators, stairs, and corridors used by everyone are the common elements.
The key to condominium management is the management association composed of all unit owners.
There are many things that are necessary to maintain and manage a condominium, such as establishing management bylaw, cleaning, equipment inspection, repairs, and accounting for management fees.
Many things related to condominiums are regulated by this Act.
Incidentally, the relationship between Civil Code and Act on Building Unit Ownership, etc. is that of a general law and a special law.
In the past, Japan had only wooden one-story buildings, and there were no condominiums.
However, with the development of the economy and the advancement of technology, it became possible to build large condominiums, and Civil Code alone could not cope with the situation, so this law was established.
This can also be said to be a product of the change in the time period.
As an aside, there is a saying in the real estate industry: "Buy the management of the condominium."
When it comes to condominiums, the fact that they are properly managed by serious people is more important and gratifying than the value of the building and site itself.
- To read this article in Japanese
- To return to Introductory course in Japanese real estate laws