The Supreme Court has clarified that the “multiproprietà azionaria” is not a real property but only a right to use the good on the basis of one’s right as a shareholder. However, the Court has specified, as already done by the Court of Appeal, that there are two different relationships between the shareholder and the company in the event of “multiproprietà azionaria”. The former is the status of partner based on the shareholding and the other is the right of use of the immovable good based on another agreement with the company. This other agreement includes also the rules on the enjoyment of the good (the regulation of condominium).
This specificity does not permit to apply the rules on company law to this second relationship, even if in the case decided by the Court the company completely fulfilled the requirement of the “scopo di lucro” under Art. 2247 c. c. because the company was not only the support for the enjoyment of the immovable good (the so-called “multiproprietà azionaria pura”) but it was producing profits for the shareholders through the management of hotels and establishments (the so-called “multiproprietà azionaria impura”).
Moreover, the Court has confirmed the decision of the Court of Appeal that qualified assessable the sum required to the plaintiff every year by the board of directors because that sum was not at the only choice of a third party under 1349 c.c. (the board of directors), but it was controlled by the shareholders’ meeting to which the plaintiff could participate.
The specificity of the “multiproprietà azionaria” does not permit to apply the rules on the contract of rent, especially when the prohibition of a duration of contract for more than 30 years (Art. 1573) in a case of “multiproprietà azionaria” is linked to the duration of the company and the status of partner and therefore, per relationem, it has a settled duration.