This is an issue that people do not usually have when choosing this option. However, the Galician Law itself contemplates that in a notarial document it is possible, just as a marriage would do, to agree on what is of interest to the effect, whether it is a mere "separation of assets", or even go further and leave a forecast of its future situations and relationships in the event of a breakup.

El freserve fund is an obligation of imperative character that is established as a guarantee to favor the better development of the horizontal property institution, as noted by the Judgment of the Provincial Court of Madrid of January 15, 2007. [j 1] It is also about a measure that is applied alternative way or complementary to damage insurance or a permanent maintenance contract for the property and its general facilities, as can be deduced from the art. 9.1. f modified by the Law 8/2013, of June 26, on urban rehabilitation, regeneration and renewal from Law 49/1960, of July 21, on Horizontal Property (LPH).

Therefore, there are two purposes pursued by this legal obligation. Prevent that at any given time, a community is seen in economic trouble against a high delinquency, and provide it with a fund to face costly and urgent reforms in the building.

The constitution of the reserve fund must comply with the rules contained in the AD 1, art. 9.1.f) and Disp. Additional 1st LPH which are:

  • The reserve fund must be established in the time in which the Board of Owners approves

    the ordinary budget of the community, corresponding to the annual exercise immediately after the entry into force of this provision.

  • The imported of the reserve fund may not, in any case, be less than 5% of the last ordinary budget or, where appropriate, 2.5% if it is a question of constituting the reserve fund for the first time. In other words, the law only sets a minimum percentage limit, leaving the setting of the maximum to the decision of the Board of Owners to agree on the amount of the fund that it deems most appropriate to their interests.s.