1) Structure

The Propriété Par Etage (PPE) means co-ownership by floor.

The co-ownership is a legal right which consists of two indissolubly linked elements :

• a share of the whole building and its integral parts (totality of the property) walls/fences/screeds & flooring/roof covering & metalwork and common areas.
• an exclusive right to use your defined parts of the building.

The building is divided into quotas or lots expressed into o/oo (thousandths).

The co-ownership’s official body of control is the co-owner’s Annual General Meeting.

2) Recording in the Land Registry

The acquisition of the property is made legal with the recording of the purchaser(s) in the Land Registry.

From the date of legal possession of the property (entrée en jouissance) the co-property charges and the taxes are due by the new owner.