Greetings PRIME Philippines! I'm just curious about condominiums and its developers, actually a lot of my friends own or rent a condo and in the future, I'm going to buy my own. But for the meantime, Let me ask you this: how do developers of those huge condominium buildings divide the property among unit owners because as I look at it, condominiums are composed of huge multiple storeys with several individual units.
Greetings in return and thank you for asking! We'll introduce you to the term "Master Deed." Condominium developers use this deed as an instrument to transform a single property, which is the whole building, to multiple individual-owned suits whose owners also share ownership of common areas.