(1) Where a Declaration is lodged for recording with the Registrar under section 4(2)—
(a) the property to which it relates is considered to be divided into the same number of separate parcels of land as there are units described therein;
(b) each such parcel of land shall have the same limits and boundaries as its corresponding unit described in the Declaration; and
(c) the parts of the property not contained within the limits and boundaries of the units is considered to be common property for the purposes of this Act and shall be held in undivided shares by all the unit owners in accordance with section 7(1).
(2) Subject to this Act, each unit together with the undivided share in the common property held therewith shall for all purposes constitute a portion of immovable property and may devolve or be conveyed, a usufruct established thereon, leased, mortgaged or otherwise dealt with in the same manner and form as land.
(3) When a declaration is recorded, it shall be binding on all owners of units in the building to which it relates and shall constitute constructive notice of its provisions to subsequent unit owners and all other persons.