What does the company own?

What does the company own?

The OMC is the legal right owner of the development’s common areas on behalf of the property owners, and they are responsible for the upkeep of the common areas. The OMC is a party to all sales of units in a development because it “owns” a share in each one. The OMC cannot legally prevent a unit from being sold or purchased, but it can pursue legal action against you if you fail to pay your management fees.