Every owner, including a developer in respect of unsold units, owns an undivided interest in the Common Parts of a property. The law mandates that this interest be determined mathematically based on the ratio of the Unit area to the total area of th…
Every owner, including a developer in respect of unsold units, owns an undivided interest in the Common Parts of a property. The law mandates that this interest be determined mathematically based on the ratio of the Unit area to the total area of the Jointly Owned Real Property. This ratio is crucial because it often dictates the proportion of Service Charges the owner must pay and their voting weight or representational standing within the community's management framework and the Owners Committee.
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