Dividing a building into apartment rights is a precise process that ensures each owner’s rights and obligations are legally defined. But how does it work, and what should real estate agents know about it? What is division? When a building is divided into apartment rights, each owner gains exclusive rights to a specific part of…
In disputes about what’s private or shared in an apartment complex, it’s crucial to know which document takes precedence. Typically, this involves the deed of division and the division plan. But what happens when these conflict? Deed of Division: The Legal Foundation The deed of division is drafted by a notary and registered in the…
When buying an apartment, terms like “ownership shares” often come up in the deed of division. But what do these shares represent, and why are they important? For real estate agents, explaining this to buyers and sellers is crucial. What are ownership shares? Ownership shares determine an apartment owner’s stake in the entire building. This…
