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Share or Fraction in Property (Quote-part)

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Term Definition
Share or Fraction in Property (Quote-part)
Any property held in divided co-ownership is divided into “fractions” or shares. The fraction or share represents the right of the owner in the property. The portion of each owner corresponding to its share of undivided ownership in the common elements and determines, at the same time, the number of votes it has at general meetings of co-owners. The relative value of the fraction is also used to calculate the contribution of each of the co-owners for expenses arising from the co-ownership and operation of the property and the reserve fund.
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