Construction investment costs allocation for common ownership and private ownership of apartment building

Abstract

Although the system of legal documents related to common ownership and private ownership of apartment buildings has been amended and supplemented time and again, up until now it has not yet been possible to completely resolve disputes between investors and apartment residents regarding private ownership which have been going on for many years. The main reason for the disputes is the lack of clear specific instructions, and the ambiguity in policies regulating area and allocation of investment costs for common and private ownership, which create loopholes in implementation of apartment project, leading to disputes. Based on the synthesis, analysis and assessment of the current situation, this article focuses on stating the existing issues, inadequacies and based on the principle that subjects must be held responsible to allocate investment costs to the corresponding part that they privately own, it proposes a method to determine the ownership area and allocate construction investment costs for common ownership, private ownership of the apartment building in general and the basement area of the apartment building in particular, as a basis for feedbacks and amendments to the draft Housing Law and other related legal documents to completely resolve disputes between investors and residents with private ownership in apartment buildings.

Keywords: Allocation of construction investment costs; common ownership; private ownership; apartment building.