After one year of the regulation of Horizontal Property Law 284 of February 14, 2022 (PH), which has been of intense adaptation and understanding, most of the changes have been positive, because it has been possible to regulate the faculties , functions and operation in the PH and the actions of the Board of Directors in the administrators, indicated the national director of Horizontal Property, Uriel Espinosa.
He stressed that for administrators the norm is clearer, however, this year it has served to identify those points that the community or the horizontal property participants may have had doubts and have not known how to apply or perhaps in some cases have been misinterpreted .
“All of this is very useful to us because we are in the regulation process with which a broad explanation of all these situations is going to be achieved,” said the director of PH.
He stressed that the owners are satisfied because this Law includes responsibilities as well as rights and that has helped them in some cases where they themselves have been violated. In addition, it allows them to operate in the PH more completely and there are fewer voids.
Espinosa stressed that horizontal property is very changeable and likewise real estate projects, forms of operation and use of technology change. For example, this new norm ratifies the assemblies through technological means, where people being abroad can participate in them.
Another of the points provided by this Law, the director pointed out, is the regulation of extraordinary assemblies, where all those situations that could not be dealt with efficiently, for example, the damage of a water pump or an elevator, now it only takes three days, which used to take 10.
The director specified that with the regulations, all questions about certain articles of the Law must be resolved, such as sanctions, fines that this Directorate must impose for those who violate the norm and that has been applied to the Boards of Directors, to administrators, many of them have corrected their behavior, others have not, but we will continue to comply with the provisions of the Law.
He stated that in April meetings were held with the National Land Administration Authority, which is one of the actors in the process of incorporation into the regime, with the Municipality of Panama and the Meritorious Fire Department to determine factors or elements that they must be regulated.
In May, meetings will be held with the Public Registry and the Superintendence of Banks, to coordinate some elements that are in the Law and that must be followed up.
It is expected that the draft of the regulation or the final document could be ready for the months of August or September.
