Declaration deed: Ownership

Is a declaration deed therefore necessary for all owners? YES. While the declaration contains all the details of the property, it also provides security of property to the owner.


Before buying or renting real estate, especially in terms of land, buildings and apartments, it is crucial to do a background check. Make sure you have all the detailed information about the property.

Know the legal rights and ownership of the property, the size of the land on which construction will take place and the overall value of the building and apartments.

It is very important to have all this information because it ensures the credibility of the claimed legal rights.

What is the act of declaration

The act of declaration is a legal document signed and registered in accordance with the law. It is called Deed of trust also. It describes and contains all the detailed information, particularly real estate, on the ownership or legal rights of a property.

It is usually carried out by the developer to occupy and cede a certain amount of land and space, as well as all the constructions therein.

Beside the deed of declaration, the regulations of the owners association and the copies of the plan approvals are recorded.

It clearly indicates who is the rightful owner and who has / are entitled to the property.

The locations of the property, the name of the building as well as the layout are also indicated in the declaration.

The document gives a detailed description of the land on which the building is to be built. It also indicates the status of the land, whether it is freehold or leasehold land.

It contains the exact number of apartments and their location, as well as the approximate area to which the apartment has access. It also indicates the number of rooms in each apartment, and any other information necessary for an apartment to be correctly identified.

Common areas and shared facilities must also be included in the declaration. This could be the swimming pool (s), elevators, gymnasiums and firefighting equipment, generator or any other shared facility whose use is restricted to specific apartments.

Apartment building; image courtesy of Pexels via Pixabay, www.pixabay.com

The purpose for which the property, i.e. the land, buildings or apartments is intended to be used, must also be stated in the declaration as well as the value of the property.

The purpose and importance of the act of declaration

As the owner, the act of declaration is important both personally and in the eyes of the law. Here’s how;

  • The declaration is a legal obligation. It is important that the law recognizes land or property and knows who owns it.
  • It serves as proof of true ownership of land and property
  • In land and property disputes, the statement can be used as evidence to determine legal rights to the property.
  • For owners of large properties, this makes it easy for them to organize themselves and know the value of each different apartment.
  • It is also a required document when it comes to transmitting ownership of properties, for example in the event of inheritance or when selling / buying the property.

Conclusion

Is a declaration deed therefore necessary for all owners? YES. While the declaration contains all the details of the property, it also provides security of property to the owner.

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About Wanda G. Warren

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