1) Structure

« Propriété Par Etage » (PPE) means co-ownership by floors.

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 of use over defined parts of the building.

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

The co-ownership’s official controlling body is the co-owners’ Annual General Meeting.

2) Recording in the Land Registry

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

From the date of this record (entrée en jouissance) the co-ownership charges and taxes are due by the new owner.