Calculation of the superficial area or the volume (length, width, height ,depth) of a private portion. This element is taken into account in the determination of the relative value of each fraction.
Parking spaces qualified as private portions are commonplace in divided co-ownership. This special legal status is attributed to them by the declaration of co-ownership, which designates them as fractions in the section devoted to the description of the fractions. Like an apartment held in co-ownership, all these spaces have a unique lot number, along with a relative value, and a share. Their owners may, at a general meeting of co-owners, prevail themselves of the votes attached thereto. These votes are added, as the case may be, to those they have for their apartment
February 9th, 2015 – In many instances, a condo is bought before ground breaking. In fact, many buyers purchase their condo on the basis of documents supplied by the developer (“preliminary contract”) and of the plans shown to them. In essence, they purchase “on plan” and on the basis of the information notice supplied when the project provides for at least 10 residential units.
The vendor has the obligation to reveal the exact superficial area of its private portion. The superficial area/price ratio is an important criteria for many buyers. It has a major influence on their decision to purchase
Off plan sale
The calculation of the superficial area of an apartment may lead to a conflict if, in an off plan sale, the gross area shown on the architectural plan is the information used for the transaction. Thus, you should insist that the developer supplies a detailed plan of the apartment to be built, along with the method used to determine the superficial areas.