Today, on July 1, 2015, Law of Ukraine No.417-VIII setting out property rights in an apartment house comes into force, RBK-Ukraine (РБК-Україна) reports.

This law regulates the right that comes with property ownership in the apartment house, and defines rights and obligations of co-owners of property at the condominium, detailing the content and management issues.

Thus, the law defines such notions as "building", the communal property, legal entities having a title of ownership, owners of apartments in an apartment house.

In addition, the document introduces the principle of proportionality that regulates owners’ voting rights in relation to a share of property that is common to all, and the procedure for a written survey along with that describing the general meeting convocation.

“The decision is regarded to be adopted at the meeting of co-owners, if voted on by owners of apartments and non-residential premises, which space exceeds 75% of the total floor space in the apartment house, excluding decisions on matters referred to in paragraphs 2 and 3, part 2 of this article, which shall be deemed to be accepted if they are voted on by the owners of apartments and non-residential premises with floor space exceeding 50% of the total area of apartments and non-residential premises in the apartment house", - as stated in the law. It’s worth noting, each condominium owner has only one vote.

The written questionnaire is to be filled in by owners within 15 calendar days from the date of the co-owners’ meeting. If the required number of favourable votes is not gained during this period, the decision is considered to be voted down.

The law also stipulates the way that an owner can apply to exercise the common property rights in the apartment house. Significantly, the common property cannot be divided among co-owners; the law also details owner’s rights, obligations and responsibilities.