Final answer:
The pro rata share of the property value refers to the proportionate share that each unit or owner is entitled to.
Step-by-step explanation:
The subject of this question is Business. The pro rata share of the property value mentioned in the declaration refers to the proportionate share of the total property value that each unit or owner is entitled to.
For example, if there are four units in a property, each unit may have a pro rata share of 25% of the total property value. This share is typically determined based on factors like unit size, location, amenities, etc.
The pro rata share is important for calculating expenses, taxes, or any other costs that need to be divided among the owners of the property.