As a result of an amendment to the Hungarian Condominium Act, a new register for condominium officers will be set up as of 1 January 2020. The aim of the registry is to keep the data of the officers (common representatives and chairman of the administrative committee) in a national, public and electronic registry, to ensure the transparency of the operation of the condominium and the efficiency of the legal supervision of the city notary over the condominiums, and to facilitate the appropriate communication in the course of authority proceedings affecting the rights and obligations of the condominium and the community.
The common representative (or the chairman of the administrative committee) appointed by the general assembly may only perform administrative activity in case the fact of generating the post has been recorded by the land registry authority. However, the amendment of the Condominium Act also states that regardless of such registration, the common representative (or the chairman of the administrative committee) appointed by the general assembly may perform administrative activities until 1 May 2020 in case he/she certifies genuinely his/her entitlement of the performance of this activity.
The amendment to the Condominium Act also prescribes that the common representative (or the chairman of the administrative committee) must submit the annual financial reports accepted by the general assembly to the land registry authority every year.
Detailed regulations of the registration of the condominium officers will be included in a government decree.
By Lidia Suveges, Junior Associate, KCG Partners Law Firm