Beheersregeling
Management Regulations
A management agreement is a written contract between co-owners that regulates the management, use and allocation of costs of a jointly owned asset.
A management arrangement is a contractual agreement pursuant to Article 3:168 of the Dutch Civil Code whereby co-owners derogate from the statutory management rules. It sets out, among other things, who is authorised to manage the property, how decisions are taken and how maintenance costs and proceeds are to be allocated.
The arrangement is particularly relevant in respect of immovable property with multiple owners, such as a building held in undivided ownership or an estate. By making clear arrangements in advance, disputes and uncertainties are avoided.
In practice, a management arrangement is often embodied in a notarial deed and may be registered in the public registers, so that third parties are also bound by it.
“The heirs have entered into a management arrangement to determine which of them may manage the leased property and how the rental income is to be distributed.”
Related terms
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