Does the registration need to be changed?
All changes in the registration of land and property begin with you contacting the planning representative and/or building inspector in the municipality where the property is located.
Property valuation is the estimated market value for a property in February of each year.
Property valuation can be viewed on the front page by typing in the address, property ID No. or land ID.
Fire insurance value
The house owner is required to request a fire insurance appraisal of a new property no later than four weeks after it is brought into use. Requests for a fire insurance appraisal. (only in Icelandic)
The purpose of the fire insurance value is to establish the insurance amount for properties. It is revised on a monthly basis in accordance with changes in the construction cost index.
Further information is available here
Is there a joint ownership agreement for your building?
Information on this is available from the respective district commissioner. If a joint ownership agreement is not available or if it is insufficient, a house meeting needs to be held and a decision taken to prepare a joint ownership agreement for the building.
It is necessary for housing associations in multi-owner buildings that have yet to prepare a joint ownership agreement, or one where the joint ownership agreement is unsatisfactory, to react swiftly and prepare a joint ownership agreement for the building as soon as possible so that delays and difficulties in real estate transactions can be avoided.