Demolition Process of Risky Buildings

The demolition process for buildings begins with the finalization of the risk assessment report, and a demolition period of no less than 60 days is determined for the property owners. The existence of a mortgage on the building does not prevent demolition; mortgages will continue to apply to the shares even after the building is demolished.

The Provincial Directorates of Infrastructure and Urban Transformation check whether the building has been demolished within this given period. If it is determined that the building has not been demolished within the specified time, the property owners are notified that they have been given an additional period of no less than 30 days to demolish the building, and that if the building is not demolished within this extended period, the demolition will be carried out by the administrative authorities.

If the property owners still fail to demolish the building within the extended period, the demolition will be carried out or commissioned by the local authorities, with the costs of evacuation and demolition covered from the urban transformation project account.

If the risky building is still not demolished after this entire process, the costs will be reported to the land registry offices, and the building will be demolished or commissioned by the Ministry. Land registry offices provide written information to the ministry and the rights holders by specifying the cost amounts on the land shares as a joint mortgage.

PROCESS AFTER THE DEMOLITION OF A RISKY BUILDING
The board of apartment owners should be called to a meeting after notification via a notary public by the manager, auditor, or one-third of the apartment owners. If the meeting invitation is not properly served, the process may be prolonged as appeals are possible, so sensitivity should be shown to this matter.

If a unanimous decision cannot be reached on the planned actions at the first meeting, the value of the building is determined by licensed valuation firms registered with the Capital Markets Board before the second meeting, and this is attached to the invitation for the second meeting via a notary public and communicated to the apartment owners. At the second meeting, an attempt is made to reach a unanimous agreement. If a unanimous agreement cannot be reached, the decision on the planned action can be made by at least a two-thirds majority of the owners, and this decision must be signed by all owners. The decision is communicated to the co-owners who were not present at the meeting and did not agree with the decision, via a notary public. The notification states that if they do not accept this decision within 15 days, their shares will be sold to the other shareholders through an auction at a price no less than the market value determined by the Ministry. If the sale does not take place, the shares will be paid by the Ministry and automatically registered in the name of the Treasury.