Frequently Asked Questions
Common questions about property defects, multi-unit buildings, rental matters and insurance.
A property is considered defective if it does not meet the quality and equipment requirements set by law and the purchase agreement, or if it does not match the information the seller provided to the buyer. Examples include moisture damage, leaks, mold, and other construction defects.
The first consultation is free of charge. Contact us at 659-1600 or einar@lr.is to book an appointment. We will assess your situation and advise on next steps.
Various remedies are available, such as exercise of right to withhold payment, demand for repairs, demand for price reduction, claim for damages, or rescission of contract. The appropriate remedy depends on the circumstances of each case.
It is important to act quickly. Notify the seller of the defect as soon as possible and gather documentation about the defect. Contact us to get an assessment of your situation and advice on next steps.
A complaint about a property defect must generally reach the seller within a reasonable time after the defect was discovered. If the seller's response is unsatisfactory, legal action must be taken within four years of delivery. It is important to act quickly.
A housing association is an organization of all owners in a multi-unit building. The association is responsible for common areas of the building and makes decisions about maintenance, operation and changes. All owners are bound by the association's decisions.
Costs are usually divided according to ownership share, but the housing association can decide on a different division with majority approval. Some cost items may be divided equally among owners regardless of property size.
Private property is the part of the building that belongs exclusively to a specific owner, such as the apartment itself. Common property consists of parts that all owners share, such as stairways, roof, exterior walls and the lot.
If the landlord does not return the security deposit within four weeks of returning the property and there is no valid reason, you can file a complaint with the Rental Disputes Committee or take legal action. We can assist with this process.
Termination depends on the type of contract. Open-ended contracts usually require three months' notice. Fixed-term contracts expire on the agreed date. Notice must be in writing and communicated to the other party.
Yes, a landlord can terminate an open-ended rental agreement for their own needs, e.g., if they need the property themselves. The notice period is usually six months in such circumstances.
If an insurance company rejects a claim, it is important to review the reasoning for the rejection and the insurance terms. We can assess whether the rejection is justified and assist with an appeal to the appeals committee or litigation.
In many cases, it may be possible to obtain compensation from the liability insurance of professionals involved in the construction or sale of the property, such as building managers, master craftsmen or real estate agents.
The right of first refusal gives the holder priority to purchase a property at the same price that has been offered. The right must be exercised within a specific deadline after notification is received. We can assist with the process and ensure that rights are properly exercised.
Planning authority decisions can be appealed to the Environmental and Natural Resources Appeals Committee within 30 days. We can assist with preparing the appeal and litigation if necessary.