Public Report Processing
Filling Out Public Report
If you are planning, or if you are only interested in any form of land selling, buying, or basically anything that has to do with land, you have to be informed about everything that the law requires. One of those things is public report processing.
Let’s say for example that you are planning to buy an apartment in a building. You have to be given the final public report (also called white public report), and you have to read it from the top to the bottom, and fully understand what is written. There you will find everything: From the costs you will need to pay for maintaining common areas (such as building staircases, hallways, maybe some balconies, gyms, swimming pools, literally everything that is available for use by all of the tenants in that building), to some things such as rules, conditions, and covenant.
However, if you are on the other side of property selling, or in other words if you are planning to sell or maybe rent a part of your land, you need to go through public report processing.
In that case, you are considered a subdivider, because you have to legally divide your land so that you can rent one of the apartments in your building to someone. According to the law, you will have to fill out only the final public report, also known as white public report. There are two more reports, pink one (preliminary public report), and yellow one (conditional public report). However, although the final public report needs to be filled out, these two don’t. You can still do that, with some additional costs, but there is no law that guarantees that you will be prosecuted if you don’t fill them out.