Definition : Park

A green space consisting of semi-natural lands, walkways and paths for walking and various types of recreation. In divided co-ownership, a park is presumed to be a common portion. It is therefore the responsibility of the syndicate of co-owners to ensure its maintenance and preservation. Furthermore, the co-ownerships by phases often have this type of development, on which plants and urban furniture are based. Their maintenance is usually the responsibility of the syndicate resulting from the initial declaration of co-ownership.

Co-ownership by phases

Large-scale real estate developments in divided co-ownership are often carried out in successive stages, the number of buildings and the duration of the work are a function of the marketing and interim construction financing. Some co-ownerships have more than one building that have in common community spaces such as a parking lot, a swimming pool and traffic lanes. In such a context, it is then a question of "co-ownership in phases". This type of co-ownership allows the developer to spread the design of a real estate project over several years, and to modulate the pace of construction work according to the evolution of unit sales. However, it is customary to announce in the preamble of the declaration of co-ownership the legal structure chosen for this type of co-ownership.

Horizontal co-ownership

By purchasing a condo (apartment) in a residential tower, you automatically become an owner in a vertical co-ownership. You can also be in a divided co-ownership, if you purchase a house (semi-detached or townhouse), built on the same lot than other individual homes. It is then called a horizontal co-ownership. If this is the case, you may not be the sole owner of the land surrounding your home. You will therefore share with others the ownership of the private streets leading to the homes and common areas, and the common equipment such as the swimming pool and collective parking.

Private portions and common portions

The characteristic of divided co-ownership is to divide the building into various lots that will be the exclusive property of the co-owners (private portions), and for others that will be the property of all the co-owners (common portions). These lots are identified by an individual number, which was assigned during the cadastral operation. Each of the private lots of the co-ownership thus constituted becomes a unique property. The distinction between the common and private portions is essential, particularly from the point of view of maintenance, which is the responsibility of the syndicate of co-owners for the common portions and of the co-owners for the private portions.

Definition : Park

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