State Act

Code of Comunidades of 1961

Art. 240 – The certified copy that referred to in the paragraph 5 of article 238, after countersigned by the administrator, is a sufficient document for the registrations and annotations in the competent land registration office. § 1 The certified copy shall be issued independent of the administrator’s order, but those wishing to obtain the certified copy urgently, shall give to the clerk, at the time of payment, the required stamp paper and the clerk of the comunidade is bound to declare, in this case, under the note written in the reverse of the application, the number of pages and half pages given to him and issue the certified copy within five days immediately after the payment. § 2 At the time of auditing the accounts, the clerk shall be held responsible to the comunidades or to the parties, to whom they shall compensate for the amounts that may have received less or in excess. To facilitate this verification they shall present in such act the applications that may have been returned by the parties. § 3 In the ordinary meetings of the managing committee there shall be, in each comunidade, whenever necessary, an ordinary opening of the safe, meant for the collection of the amounts corresponding to the liquidations done in the preceding month. § 4 Any applicant may request the extraordinary opening of the safe to receive the capital of the redemption. In this case opening fees shall be deposited with the clerk of the comunidade. § 5 The clerk shall send to the respective administration office, within forty hours of each opening of the safe, a report of redemption effected on such occasion, with all the necessary details in order to verify if calculations and payments conform to the corresponding certified copy. § 6 The price of redemption may be paid, in full or in part, in shares of the same comunidade, at the market price, fixed by the administrator, after hearing the managing committee. § 7 The shares shall be endorsed by the respective proprietors in favour of the comunidade, mentioning expressly in the endorsement of redemption or redemptions to which they apply. The presenters shall take with them the necessary amount to pay the stamp duty and registration fees for endorsement and annotation, without which they shall not be accepted. § 8 Two or more individuals may present, in common, one or more shares for the payment of the price of redemption of the charges related to two or more properties, provided that such use of shares does not result in a positive balance in favour of the respective proprietors. § 9 In the register of share holders, the clerks shall make the mutation of shares in favour of comunidade and cancel from the mutation the name of the transferor, obtaining previously from the administration office the annotation of shares, for which they shall present or send to the administration office the shares along with the amount received as deposit for the stamp duty and fees. After the inscription is made the shares shall be kept in the respective safe.