Most buyers often decide on their real estate purchase based on the factors offered such as the built-up area and the additional amenities at the apartment. However, the most important factor in every real estate purchase, the land you own, is often overlooked. This is especially true for housing. When an apartment is purchased, a certain value of the land is also attributed to the buyer`s name. This part is called the “undivided part of the country” (UDS). This is part of the land given to the owner of the apartment in an apartment complex on which the whole structure is built. This area has no defined boundaries, and each dwelling built on this particular land has been allocated to udS. The Importance of UDS 1. The building itself is not very important because the value of the built surface devalues. The older the construction, the greater the market value of the property. 2. The increase in prices in real estate is actually the appreciation of land prices, because the building is technically devalued over time.
That`s why the amount of land you own would be significant. A smart buyer would actually look at the UDS of this place and invest in it. 3. If the owner does not have an undivided share of land due, he may not sell the property or get good returns on the investment. Legal impact of UDS 1. The legal involvement of an undivided part of the land makes it an essential element of a real estate agreement. 2. Suppose the building in which the owner resides is rebuilt ten years later, or is covered by the proposed acquisition of the state and made available for demolition, the compensation made available to the owner depends on the percentage of the non-proportional part of the property. (3) The sum of all the undivided shares of each owner must be proportional to the area on which the dwelling was built. 4. In the case of co-operative housing companies, the UDS must be legally on behalf of the company, since the homeowners are shareholders of the company. UDS calculation It is determined by a simple formula.
It is calculated by multiplying the total area by the size of each dwelling and by identifying the result by the total area of all the dwellings in the project.