Definition : Share (private portion)

Share of the right of ownership that a co-owner holds in a private portion with one or more other co-owners. The undivided co-owners of a fraction exercise their voting rights in the proportion of their undivided share. For example, Robert, undivided co-owner, owns 60% of the apartment and Louise, the other undivided co-owner, owns 40%, while the apartment has a relative value of 10%: Robert will have 6 votes at the meeting and Louise 4 votes.

 WHAT YOU SHOULD KNOW! The shares of the undivided co-owners are presumed equal, unless the deed of sale or an indivision agreement mentions a different distribution.

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  When shopping for an apartment, you must find out if it is in a divided or undivided co-ownership. Even though both concepts are similar in that their ultimate goal is the partition of an immovable between several persons called co-owners, the financial and legal commitments are different.  
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