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Share of the right of ownership that a co-owner holds in a private portion with one or more other co-owners. The undivided co-owners of a fraction exercise their voting rights in the proportion of their undivided share. For example, Robert, undivided co-owner, owns 60% of the apartment and Louise, the other undivided co-owner, owns 40%, while the apartment has a relative value of 10%: Robert will have 6 votes at the meeting and Louise 4 votes.
WHAT YOU SHOULD KNOW! The shares of the undivided co-owners are presumed equal, unless the deed of sale or an indivision agreement mentions a different distribution.
WARNING ! The co-owner of a fraction held in indivision who is absent from a meeting of co-owners is presumed to have mandated the other co-owners of that fraction to represent him, unless the absentee has, in writing, mandated a third person for that purpose or has indicated his refusal to be represented. The absentee’s voting rights are partitioned proportionately to the rights of the other co-owners in the indivision.
23/11/2023
If you are shopping for an apartment, ask yourself if it is located in a divided or undivided co-ownership. Although these two concepts are similar, as they ultimately aim to share the same building by several people called co-owners, the legal and financial implications are not the same. These two…...
08/06/2015
In divided co-ownership, the right of ownership is divided, among the co-owners, by "fractions", each comprising a materially divided private portion (e.g. a residential unit, a parking or storage space, and sometimes even a plot of land) and a share of the common portions. To each fraction is attached an undivided right…...
28/03/2023
La webradio du mercredi 29 mars 2023 a porté sur le mode de répartition des charges communes entre les copropriétaires. La copropriété donne lieu à des dépenses relatives à l’entretien des parties communes et l’administration courante du syndicat. Les coûts d'administration, d'entretien, de remplacement, d'amélioration ou de transformation des parties communes constituent des…...