Action For Correction Of Land Shares

A land share, under Condominium Law No. 634 (the “Condominium Law”), refers to the co-ownership share in the land of the main property allocated to each independent unit. Pursuant to Article 3 of the Condominium Law, land shares must be determined in proportion to the values of the independent units as of the date on which the condominium easement is established or, where condominium ownership is established directly, as of the date on which condominium ownership is established.

Where land shares have not been determined in accordance with this principle, condominium owners or holders of condominium easements may request that the land shares be reallocated. Land shares may be corrected by agreement among the owners or, if no agreement can be reached, through court proceedings under Article 3 of the Condominium Law.