On December 21, 2018, the Federal Law No. 13,777/2018 was published, amending the Federal Law No. 10,406/2002 (Civil Code) and the Federal Law No. 6,015/1973 (Public Registers Law) aiming at regulating time-sharing (multipropriedade).
Time-sharing is henceforth regulated within the Brazilian legal system as a form of condominium in which each condominium member (co-owner) holds a fraction of time which entitles the exercise, on an exclusive basis, of all rights inherent to the real property, in an alternate manner among the remaining co-owners.
The time-sharing regime shall be established by means of the register of the corresponding instrument before the competent Real Estate Registry Office, which shall indicate the periods comprised within each fraction of time and, therefore, the moment each co-owner may possess the respective real property.
Similarly to the standard condominiums, the use of real properties subject to the time-sharing regime shall be governed by a condominium by-laws, which shall include, among other matters, the rights and duties of the co-owners, the policies regarding the maintenance of the real property, the number of people who may occupy the real property in each fraction of time, as well as the number of days comprised in each fraction of time, which shall not be less than seven days, consecutive or interspersed.
The condominium which contains units subject to this regime must, obligatorily, hire a professional administrator, who will be responsible for the joint administration of the condominium and each real property subject to time-sharing regime.
It is interesting to note that the bill No. 10,287/2018 contained a provision stating that each co-owner should be held accountable individually for the costs of his obligations, including taxes, expressly excluding joint liability among the co-owners. However, this provision was vetoed by the President of the Republic, so that, unless otherwise set forth in municipal legislation, co-owners shall be held jointly responsible for any default of obligations related to the real property subject to the time-sharing regime.
Federal Law No. 13,777/2018 will enter into force within forty-five (45) days, as of its publication.