The Condominium Act is the pre-eminent legislation regarding the ownership, lease and use of Condominium units. Its provisions provide for the rights and duties of both landlords and tenants. It has been recently amended in order to answer for its past deficiencies particularly in the field of buyer protection. As it stands, the Condominium Act provides protection even prior to the signing of any contract. It requires that the developer and the condominium entity to secure copies of all the advertisements used in the promotion of the sale of the units until all have been sold. The law treats these advertisements as being incorporated in the purchase agreement and any deviation from the terms and conditions found in both the agreement and the advertisements shall be construed against the seller and in favor of the buyer. Another important amendment is the requirement of observing a standardized form of contract for all condominium purchases. Failure to do so would result in the agreement being unenforceable. The amended law also provides for the party who shall pay the taxes, common service expenses, and common maintenance of unsold condominium units. The law also provides for regulations on businesses found within the condominium building in order to preserve peace and tranquility. Last, the law also provides for violations and their corresponding penalties.



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