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Large-scale real estate developments in divided co-ownership are often carried out in successive stages, the number of buildings and the duration of the work are a function of the marketing and interim construction financing. Some co-ownerships have more than one building that have in common community spaces such as a parking lot, a swimming pool and traffic lanes. In such a context, it is then a question of "co-ownership in phases". This type of co-ownership…...
When purchasing an apartment in a high-rise building, the buyer automatically becomes a co-owner in a vertical co-ownership, where the units are stacked on top of each other. However, when acquiring a house (detached, townhouse or semi-detached) located on a shared piece of land with other houses, it typically falls under horizontal co-ownership., where the units are side by side. In this type of co-ownership, the land surrounding the house may be designated as a private portion, but some…...
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 portions and, in some cases, an exclusive right of use to certain common portions. In other words, a fraction of co-ownership is the result of…...
