Can the trustee impose a cash advance on co-owners?
Verified 17 February 2022 - Legal and Administrative Information Directorate (Prime Minister)
Yes, the trustee can ask the co-owners for payment cash advances.
Advance payment may be provided for by the condominium settlement.
This advance shall not exceed 1/6e of estimates (this corresponds to 2 months of budget).
The amount claimed from each co-owner depends on tempos that he holds.
If the advance payment is not provided for in the Regulations, the General Assembly may decide to provide for it by vote of joint owners by double majority of article 26 to make up for a temporary cash shortfall.
Finally, if the co-ownership has decided to vote on a multi-year work plan, the trustee may ask the co-owners for the advances provided for in the plan's schedule.