What is a declaration of co-ownership?

Legal document which must necessarily be notarized and by which the divided co-ownership is created. The declaration of co-ownership specifies the duties of the syndicate of co-owners, describes the common portions and the private portions, organizes the relationship between the co-owners. This document must be signed by all the co-owners of the building as well as all the creditors. It binds the co-owners and produce its effects as from its publication in the land register. The effects of this declaration are also opposable against third parties, such as lessees, to the extent that the latter have been informed and have received a copy of the aforementioned agreement. It is important to note that the publication of this declaration is creative of right: to publish same creates the co-ownership.