5 Phased co-ownership

Phased co-ownership occurs where a project consists of several buildings that are served by common spaces and services (walkways, gardens, indoor parking, swimming pool, etc.) and where the developer chooses to build the buildings or develop the common services based on sales progress.

The current methods used to handle phased co-ownership are concomitant co-ownership declarations and successive changes to the declaration of co-ownership. The choice of one or the other method has an impact on the management mode of the co-ownership.