Let's continue to understand the definitions of the terms "special co-ownership, special co-ownership, special undivided ownership and lot" used in the law on granting rights to private parts of co-ownership buildings to foreigners.
What does the above term mean?
oSpecial co-ownership: refers to the rights of multiple individuals, both foreigners and Khmer citizens, over a single co-ownership building, in which foreigners and Khmer citizens have ownership rights over private parts and special undivided ownership rights over the common parts of the co-ownership building.
oSpecial co-ownership: refers to foreigners with special co-ownership rights.
oSpecial undivided ownership: refers to the rights of multiple individuals over a common part of a co-ownership building, in which foreigners have the right to use and benefit from the common parts, and Khmer citizens have the right to undivided ownership over the common parts due to ownership of the private parts.
oLot: refers to the private parts attached to the common parts of a co-ownership building. Each lot has different prices depending on the size of the private part, and the calculation is based on the area of the private part of each co-owner.
(Source: Law on Granting Rights to Foreigners over Private Parts of Co-Owned Buildings, Excerpt from: Article 4)