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Ownership right comprising at least one private portion (e.g. an apartment) and a share (%) of the common portions reserved for all (e.g. the corridors) or, as the case may be, only for some of them (e.g. a balcony). The share in the common portions of a fraction is equal to its relative value. In addition, each fraction constitutes a separate entity and may be the object of a partial or total alienation. It includes, as the case may be, the right of use of the common portions for restricted use. The share of the common portions appurtenant to a fraction may not, separately from the private portion of the fraction, be the subject of alienation or an action in partition. The fraction includes, as an accessory, certain exclusive use rights over specific restricted common portions when these exclusive use rights are included in the fraction by the declaration of co-ownership and not merely granted personally to the co-owner.
WHAT YOU SHOULD KNOW! The Court of Appeal recognized in a judgment the possibility that a fraction consists of more than one private portion.
13/12/2024
A co-owner wishes to acquire exclusive use rights for a rooftop terrace currently designated as a common portion according to the provisions of the declaration of co-ownership. This co-owner seeks to have the terrace reclassified as a restricted common area to enjoy exclusive use. The terrace, which forms part of the…...
21/09/2024
In divided co-ownership, the property of the building is divided among the co-owners in the form of "fractions." Each fraction includes a clearly defined private section, such as an apartment, a parking space, a storage unit, or even sometimes a piece of land. Additionally, each fraction grants a share of the common…...
23/07/2024
The right to vote is recognized as an essential element of any modern society, and as such, co-owners cannot be deprived of it except as provided in the law. In addition, each co-owner has, in principle, at the meeting a number of votes proportional to the relative value of his…...
23/07/2024
Divided co-ownership is a housing formula that usually has more than one owner. In order to assess and quantify the interest of each person in the building, the legislator has provided that the right of ownership of each owner in the common portions is proportional to the relative value of his…...
01/07/2024
The municipal value of a property is often a basic measure of market value. With the increase in the market value of buildings, caused by a booming real estate market, a co-owner may have a clear interest in asking his municipality to change the value of his unit (to reflect…...
30/06/2024
Any co-owner may have the relative value of their fraction, as well as the allocation of common expenses (condo fees), revised according to certain conditions and formalities. To do so, it is necessary to proceed with an appeal to revise the relative value of the fractions. Furthermore, a co-owner may…...
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27/03/2024
Vehicle parking within the immovable may be organized as a common portion for restricted use. Most often than not, declarations of co-ownership (constituting act of co-ownership) designate the legal status of exterior parking spaces as common portions for restricted use; this is also true for indoor parking spaces when the developer (declarant) decides that it…...
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09/08/2022
Question: I plan to purchase the exclusive right of enjoyment of a parking space (common portions for restricted use) a few months after purchasing my apartement (parking is sold directly by the developer). Do I have to go to the notary to change my deed of purchase to indicate that…...
25/10/2010
Co-ownership is a collective property in which the co-owners have a right of ownership over their respective fraction: each co-owner has an undivided right to the common portions while he will have an exclusive right of ownership over his private portion. This is how you purchase an apartment in a…...