semantics. their are verbal agreements. gentlemens agreements. agreements done with a handshake. written contractual agreements. marriage contracts. lease agreements. etc. in the U.S.of A. we have the courts from small claims,like judge judy to federal courts to enforce our contracts. if your point is the terminology "owner".is a misnomer, let's not forget that many of these developers are on leased property. government or individually owned they are not owners either. they are controllers. by virtue of the fact that have accumulated more units.
given the choice where would you care to have your contracted litigated? in SXM with judges who need not be lawyers or the U.S.? I choose the latter.