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This time: what MUST happen before the building's first renewal deal is signed with a developer — the owners' conference and the offer-essentials document. Why a conference at all, what happens there, how it's announced, whether attendance is mandatory — and the sanction when it isn't done by the book.
Why a conference now?
After the invitation for bids, the owners' attorney ranks the attractive offers with the representation — and the finalist developers advance to the owners' conference, the stage at which the whole building meets the developer face to face before anything is signed.
What happens at the conference
- The type of deal offered — pinui-binui, TAMA 38/1 reinforcement, or TAMA 38/2 demolish-rebuild;
- The main milestones required to advance the project;
- The developer's construction and renewal experience — including the addresses and status of its projects;
- Who acts for the developer in advancing the deal;
- Which buildings the developer wants included in the renewal complex;
- The rights of the elderly and owners with disabilities;
- The owners' right to demand translation of the material.
Announcing the conference
The developer publishes the conference at least 10 days ahead — its date, place, purpose and the developer's name — displayed prominently on or in the building (every entrance, in a multi-entrance building), and delivered to the owners in at least two ways: the apartment's mailbox, the apartment door, or electronic means (email, phone, SMS/WhatsApp). The notice is in Hebrew — and where a significant share of the owners speak Amharic, Russian or Arabic and not Hebrew, in that language too.
Attendance and quorum
- At least 40% of the building's owners — and no fewer than 2 owners — must attend. If attendance falls short, the developer announces a further conference on another day, and must ensure the two conferences together drew at least 30% of the owners.
- Where 40%+ of the building's apartments are public housing, the quorums are counted from the non-public apartments.
- Where a significant share of the owners speak Amharic, Russian or Arabic and not Hebrew — the developer must provide an interpreter at the conference.
And if it isn't done by the book? The sanction
If a renewal deal was signed before an owners' conference was held, or before the offer-essentials document was delivered — a majority of the owners may resolve to cancel the deals, so long as 40% of the owners have not yet signed with the developer. On such a resolution, written notice goes to the developer — and the owners who had signed are NOT treated as having breached their engagement.
Owners in an old building? Come set urban renewal in motion — we represent hundreds of apartment owners from the idea stage to the key.
The above is initial information only and does not constitute legal advice or a substitute for it. Consult an attorney who practices in the field before taking any action.
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Informations générales, sans valeur de conseil juridique.