Condominium Act on the Term of Office of Propert Managers
The Bundestag (Federal Parliament) and Bundesrat (Federal Council) have passed the " Act on Mitigation of the Consequences of the COVID-19 Pandemic in Civil, Insolvency and Criminal Proceedings Law". Due to the current restrictions on the freedom of assembly, temporary special regulations in residential property law have been adopted in addition to the simplifications in company law, among other things, for holding general meetings and shareholders' meetings.
The legislator has reacted to the fact that in many places no owners' meetings can take place due to the corona pandemic, and for the time being has suspended the current regulations in the German Condominium Act on the term of office of condominium owners and on the preparation and adoption of a business plan.
The property manager last appointed within the meaning of the German Condominium Act (WEG) now remains in office until his or her dismissal or until a new manager is appointed. Furthermore, the last adopted business plan remains in force until a new business plan is adopted.
The special regulations concerning the term of office of the property manager under the WEG and the continuation of the business plan are limited until 31 December 2021.