An Owner is any person registered in the Real Property Register as the owner of a Unit. This definition includes holders of usufruct or long-term lease rights as per the law. Furthermore, a Developer is considered an Owner in respect of any unsold u…
An Owner is any person registered in the Real Property Register as the owner of a Unit. This definition includes holders of usufruct or long-term lease rights as per the law. Furthermore, a Developer is considered an Owner in respect of any unsold units in a project. Being an Owner grants an undivided interest in the Common Parts of the building. This interest is determined based on the ratio of the Unit's area to the total area of the Jointly Owned Real Property.
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