Definition : Initial declaration of co-ownership

Notarial deed, published in the land register, its main purpose is to subject an immovable to the divided co-ownership regime by the method of concomitant declarations of co-ownership. The private portions generally consist of the lots intended to receive a building. Each lot is subject, once the building erected, to a concomitant declaration of co-ownership. The common portions consist of the land and other equipment intended for all the co-owners of the project, such as traffic lanes, outdoor parking or the swimming pool.