If you missed it, The National has an explanation of this law designed to clarify the legal status of common (shared) areas and individually owned units in real estate projects where a building or complex has been sub-divided into separately owned units. The new law (once implementing regulations are issued) will legally define these spaces and set rules, including how common areas are to be managed.
As the article notes, an important step in protecting owners' rights and thus enhancing the local real estate market.
Posts
No comments:
Post a Comment