Unanswered | Answered

Condominiums

Parent Category: Residence Types
Condominiums are buildings made up of individually owned apartments or houses. They generally contain shared spaces like a lobby or roof, which are controlled by an association of owners.
Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared. Read more, below.
You rent an apartment fom someone who owns the whole building, you  own a condominium, or rent it from someone else who does.
wow... investing in property is the best option... i have search little about your queries & found that property guru have huge collection of sales. go through its website & contact him if it is useful. No need to provide my reference coz i dont have any. Source(s): www.propertyguru.com...
This right is documented in your governing documents, because each situation is unique. Essentially, it means that should you decide to sell your unit, the association reserves the right to purchase it, and if it refuses -- by right of first refusal -- to buy it, you can sell it on the open market.
Depending on the state where you live, there are official documents that must be prepared and presented to the association from the developer at the end of the 'declarant control period'. As well, the public offering statement given to each buyer of a new unit by the developer clearly spells out...
A local realtor can answer your question.
In the local plumbing code under "condo plumbing and related piping"  As well, you can contact a developer for a condominium project and request a copy of the plumbing schematic for a particular building or set of buildings.  Individual drawings may also be on record at the local county...
Overall, every state handles these matters differently from every other state. You need a condominium-savvy attorney to help you recover this debt at this late date. Effectively, a lien must be filed with the local court.
Both are housing units. A townhouse may be a condominium, and may be owned; or not.A condominium is always owned, and may be a townhouse; or not.
Read your governing documents to determine the level of credentials required of vendors. Best practices dictate that anyone working for the association be licensed, bonded and insured, because accidents happen, and the association must protect itself.
Read your governing documents regarding petitioning the board to modify common areas (if that's where you plan to install your fence). Modifications may or may not be allowed. There may be fees associated with its installation if modifications are allowed. As well, permissions may be required.If no...
Your governing documents will make this clear. The state law may limit the number of month's past due assessments can be recovered.Your association's attorney can answer your question directly.
Personally, I would not buy a condominium unless my review of the complete declaration was finished. Otherwise, you (and I) have zero idea about the community you're (I'm) buying into. Whether or not it can be sold may be a local legal issue. See your state condominium statute.
Your governing documents will advise you whether or not you curb your membership rights when you pay your assessments late. For example, you may or may not be able to vote in association business, or your rights and privileges to some key amenities may be restricted or stopped.
  == Answer ==   u set u lil terminals either hidden in every room or u have a larger hub mounted in the hall on every floor.   this is for the best connection u can place them outside each room or by floor but u will need one for every face of the building 
According to Community Associations Institute, the latest number  available, for 2009, indicates that there are 60.1 million  residents in 24.4 million housing units located in 305  association-governed communities in the United States.
No. Read your governing documents to discover parking space ownership options.
It depends on where you buy the land, what style you build and the quality of condominium that you build. A local realtor can help you answer this question for your location.
In most states, the developer commissions a set of governing documents that are made available to every buyer.Once the documents are in place, depending on the operational issue, a different set of owners' vote may be required to modify existing documents.Modifications to CC&Rs usually require a...
Yes, generally. Associations levy assessments against unit owners in order to pay for communal expenses. These might include: . Master insurance policy premiums . Landscape, pool, public recreational area maintenance . Basic utilities, and/or cable and Internet services . Contributions to...
My parents used to live in a condominium but they bought a house two years before I was born.
As a tenant, you can become subject to the vagaries of the owner's responsibilities and apparent unwillingness to stand up for them. The board is chartered with collecting assessments from owners, and as a last resort, the board may sell the unit where you live. There may be an entry in the...
"Wrong" implies that there is a standard. It is rare that a  condominium community would define a "right" detergent for use in  its facility.   Classically, detergent does not cause plumbing leaks.
Not usually. Since all condominium owners potentially own the land and the exterior of the buildings (and more) in common, a private home and its grounds wouldn't fit within that definition. However individual homes can be owned communally through home owners associations. In some areas private...
Yes. Over time, the original declarant or developer generally fades from the picture, unless the developer maintains ownership of one or more units.Your existing governing documents provide for their own amendments: the CC&Rs by a super-majority vote -- other than a simple majority -- of owners...
The declaration states how it can be amended or modified. Otherwise, the state law can guide you, either the law covering condominiums or the law covering non-profit (if that's the case) corporations. Usually, a super-majority vote -- greater than 51% of the members -- must vote in favour of...
The number -- usually expressed as a percentage of owner-occupancy -- depends on your governing documents. In recent times, the governing documents you need to look for are those board meeting minutes that contain references to 'rental caps' or resolutions that the board has passed establishing the...
If the Illinois Condominium Property Act says that you **shall** have insurance -- not **may** -- and lays out specific terms and conditions, you are strongly urged to obey the law. In the case of a disaster, without insurance you may be doubly charged: once by the cost of recovering from the...
Swimming pools are defined as "common property" which is supported and maintained by the general assessments that are levied on all the condo owners. Condominium law does not specify how the the pools should be operated, or even that a condo must have one. Those decisions are left to the Boards of...
The key phrase in your question is 'shortage of funds'. If the association borrows money from its owners to make repairs, then the owners and the association need a written agreement that details the repayment plan. A more common and more sound approach dictates that the association levies a...
Read your governing documents to determine ownership of the doors in question. Doors inside a unit are usually the responsibility of the unit owner.Entry doors to units are generally considered limited common property (areas), and are replaced by the association. This affords uniformity in the...
Read your governing documents where you can find the process to remove a director. Usually, this is done by an uber-majority vote of members: 67% or two-thirds or some number greater than a simple majority, in a public meeting called by the board where a quorum (of board members) is present. If...
The local fire marshall will be able to give you this information free of charge.
Read your governing documents to determine who owns the driveway. If you have exclusive use of it, it may be limited common area. If others also use the same driveway, it may be common area. However, it's also possible that you own it individually, but this is the least common option.  ...
These are the players: The Board, the Property Manager, the Vendor (landscape-subcontractor), the Unit Owner (landlord) and You. The association's board would prefer to deal with the landlord. The vendor (subcontractor) has an agreement with the board via the management company. Develop your case...
Without a context or more information, the only answer can be 50 years is 50 years.   Answer There are two meanings of the word condominium as follows: In Real Estate and Property Law: A condominium is defined as a building or complex in which units of property, such as apartments, are owned by...
Your question is complex. First, the elevator serves owned apartments in a condominium building. Then the elevator may be known as a limited common element.Since the elevator serves both units, the location of the 'single family dwelling' is unclear. (Both apartments are condominium units; neither...
When you decide on a particular condominium unit, you can research these documents and otherwise learn more about the community into which you're buying: Read the last three years' worth of board meeting minutesReview the last three years' worth of financialsObtain proof of the master insurance...
It's unclear from your question who owns the property, who is foreclosing on the unit and the reason for the foreclosure. If you own the property, and you owe money -- either to a lender, to a tax authority or to the association for over-due assessments -- foreclosure should not be a surprise. ...
Your question is two-fold: one to be answered by your board and another to be answered by an expert in HVAC matters. As to your condominium: before you install any air vent, it will be a good idea to seek the professional guidance of an expert, who can document your plan, so that you can present it...
Read your governing documents to determine ways to address the impact of meetings of any kind that you want to hold in your unit. Items to consider will be: Traffic through any gate boundaryParking for visitorsNoise, especially quiet hour guidelinesSafety and security, given a large collection of...
Each and every multi-family ownership scheme community has different CC&Rs, because each and every community is unique in its composition, locale and age. Because you can usually secure a loan against a title to a condominium unit, and banks are less likely to loan money for ownership of shares...
It depends upon the circumstances in which the leak came about, and also upon your individual insurance policy. Insurance policies are contracts, and these contracts state very specifically what is covered and what is not covered. Read the "named perils" section to see what is specifically covered....
It depends on the status of the person or who the person is. If the person is simply another member of the association, and is not entitled access to the exclusive use area, then permission is probably required.If the person is a board member, this person may be automatically entitled access to the...
Generally, landlords can enter tenant-occupied residences given appropriate notice that may be defined in the lease. If the owner chooses to include a security guard with that entry process, the tenant probably has no recourse, unless the security guard violates the tenant's rights.
If the condominium corporation rents its pool to the public, then its rental agreement will specify liability coverage. If an owner hires a caterer to organize a pool party, again, the association probably requires an agreement that will specify liability coverage. If the corporation does not...
Wikipedia lists a condominium building at Eighth and Stewart, proposed for completion in 2009, as the tallest such building. It is proposed at 38 floors. Read more, below.For the tallest existing building, you can contact a local realtor, who can answer your question.
Yes IF the loan is really a legal mortgage loan that meets the IRS rules for it to be a mortgage loan.This is possible when you and they meet the enclosed rules. Generally, home mortgage interest is any interest you pay on a loan secured by your home (main home or a second home). The loan may be a...
Ideal boards are numbered with odd numbers. This means there will always be a majority vote. Depending on the size of your community, you may want three or five or seven board members.Larger communities may require larger boards; smaller with fewer board members. The size of the board often reflects...
Condominium buildings and thus units within them hold their value if renters live there as though they were owners, fully informed of the guidelines contained in the governing documents, but without the right to vote. An important issue to consider is the ratio of resident owners versus renters....
Your broker or attorney can help you answer this question. The class code may depend on the type of condominium.
Yes, suing is nearly a national sport in some countries. Before you sue, however, there are some points you can consider. . Depending on the age of your condominium community, you may have recourse against the builder for construction defects. . Consider the statute of limitations on construction...
Your question reads as though you want a definition of the word 'issue'. Please read your governing documents to explore that definition.If you have a more specific question, please ask it.
Townhouse Generally, a townhouse is one of a row of attached dwellings that share common walls. The term 'town home' is used in some regions. Each 'townhouse' owns the land beneath it and there may or may not be common areas set up by the developer. However, a townhouse is an individually owned...
You should be able to obtain a copy of the association's certificate of insurance from a board member or the property manager. The certificate is issued by the company that carries the association's master insurance policy. The copy you want may be a document that your lender requires.
I think the rules only apply when you have the US as well. For example, if you have US & state, US has to be higher & so forth and there are times when it should not be excluded depending on others displayed.
Your question and the categories you chose make it look like something in your possession was repossessed on property that is part of a condominium complex. With those facts as assumptions, your answer is: Some of the complex is private property, some is common area and some is public.With proper...
The answer to your question is going to be different in every state and nearly every county and community where you propose to purchase a condominium. A local condominium-savvy real estate agent can help you understand what must be provided by the seller and what to demand if you are the buyer. ...
You can find the definition you want in your CC&Rs document. Look under the topic "Unit Boundaries." These boundaries are likely to be different in every condominium community and as an owner it's important that you understand where they are.
The Secretary of State for the State of Colorado has documents on file for this legal corporation -- perhaps it's a non-profit corporation -- and the names of the board members are listed there.
You can read more, below. Pheasant Island, apparently, is a condominium in the land-property sense of the word. In all the simple research, it's not possible to discover which six months of the year each country maintains sovereignty.For example:"...joint sovereignty of Spain and France, and so...
Unless your HOA has specific rules about this, you may not have any recourse in the matter. It then becomes a one on one matter between you and the neighbor. Guaranteed, the neighbor will not back down about where his/her dish is sitting, so your next action would involve a lawyer. Begin things by...
All condominiums -- private democracies -- operate under a set of governing documents. You can read yours (CC&Rs and By-laws, plus any board resolutions) to better understand the rules that govern your condominium pool in Florida.
You don't indicate in your question whether you have a court action or are contemplating one. If owners are already in court in an action against the association, the key will be documentation and proof and your governing documents -- which are based on your state's condominium law. Your attorney...
A time share condominium is a scheme under which individual owners can purchase the use of a condominium by the week, usually in a resort or other vacation destination. Buyers do not own any fee interest in the until. They own the right to use it for a certain time period. For example, a friend owns...
Condominium boards are most properly insured with directors and officers insurance -- which best practices recommend, and which may be required by your governing documents. One of the situations covered by this insurance includes dishonesty. From the FindLaw site: "Dishonesty exclusions bar coverage...
Once you purchase a condominium unit, whether you are its first owner or subsequent owner, the condominium declarations will always be in force.
You probably buy one. A local realtor can show you those available for sale in Singapore.
Any letter of reference, regardless of who you're writing it to, should contain roughly the same information. One idea is that you write the letter using the salutation, To Whom It May Concern.You most properly address a condominium association by addressing a letter to the Board of Directors of the...
The official difference is in ownership: an apartment is owned by a landlord who may also own other apartments in the same complex; a condominium is owned by a single owner and that ownership includes a percentage ownership in the community's common areas. A condominium may be in the style of an...
Condominium real estate ownership is a particular form of  ownership: every 'unit' owner owns a unit and also owns the  remainder of the 'community' property in common with all other  owners.    A 'unit' can be an apartment, a retail space, or a stand-alone  building. It can be a boat slip,...
Your governing documents can make this clear. Every condominium's definition of the ownership boundaries is different from every other property's definition. Because of fire codes, if you're referencing the frame and crawl space exclusively above your unit, it's possible that they are referred to...
Living in a condominium -- whether you are an individual person, a couple, a family, or people who live together for some reason -- is a life with a definition based on the governing documents in force for the private democracy where the unit is owned. Primarily, it is important that any owner read,...
It depends on what you mean by 'legally'. Each is a legal business, often a non-profit corporation, and in that sense, then each is a legal entity. Each is operated by a board of directors which is elected by the membership -- owners.Each type and each individual community operates its own private...
Your broker and real estate attorney can help you obtain the certificate you want.
In US, the definition of a studio is loosely a single room or a small space where a person lives with furniture that serves multiple purposes -- i.e., a Murphy bed, etc. A condominium is a living space that you purchase, with the idea that you also purchase and therefore ultimately own other parts...
Most commonly, a hotel is owned by a corporate owner who then rents rooms in the property. A condominium hotel could be run like a hotel, but with units -- rooms -- owned by individual owners.
Your governing documents should clearly state what is expected from the Secretary. Generally, your responsibilities include drafting board meeting minutes, circulating them among the board members before sending them to the membership, and making them available to anyone legally allowed to read them...
When you remodel your condominium, it's generally a good idea to review your plans with the board, to verify that you are within your rights to remodel, and that your plans will not compromise any structural integrity. Petitioning your condominium sounds like you want to at least add another front...
The first rule should be common sense, followed closely by the local littering laws. This behaviour is not only childish, it's dangerous, because cigarettes can start fires. In your governing documents, you may be able to find guidelines about balconies -- how they can be used by residents, and...
In a condominium usually the board pays for property insurance on all common areas. An individual owner pays for 4 walls, the ceiling, the floor, the inside of the door, and everything in between.
Usually just the person that owns the condo.     Review your governing documents to understand the qualifications for board membership in your particular community.No two states establish the same requirements; as well condominium governing documents will vary wildly on this point.During the...
Your governing documents could specify the interest rate.
There is no normal in terms of configuration of units in a condominium building. The developer built as many units as s/he believed that s/he could sell, given the zoning, height restrictions and parking requirements set out by the city where the building was constructed.
Your broker can explain this concept to you given your particular situation in your state.
Read your governing documents to determine the qualifications for sitting on the board. Usually, election to the board is reserved for unit owners, and each board member must own at least one unit. Ownership is represented by a 'name on the title or deed to the real property'. If each family member...
Read your governing documents to determine the steps the board takes in order to recover the debt from an owner who does not pay association assessments. Your association attorney can best advise you.
Your governing documents are specific about amending your by-laws, because this process is different in every community. The steps may include: Working with your association's attorney to craft the resolution or other-titled amendment;Notifying every owner of the purpose of the resolution, and...
Read your governing documents to discover the process for your condominium. There is no standard, but generally, a vote of a majority of owners is required.
Generally, a condominium is a collection of multi-family units and an HOA consists of single-family units. However, this generalization is not always exact.Both are ownership styles of real estate, where owners own individual units and own common areas in common with all other owners.
No. If the dish is mounted in an area you have exclusive use over. Here is the FCC guideline: www.fcc.gov/mb/facts/otard.html . Your governing documents may detail the process to follow in order to receive written permission to install a dish. A dish can be limited in its size, its shape and in...
It depends on the type of lien and the state where the condominium is located. You are best advised to hire an association-savvy attorney to help you. If you are a vendor filing for unpaid work, you have a different set of issues than if you are the association filing a lien for unpaid assessments.
In most states, if you hold title to a condominium, you should be able to sell it.  However, there may be restrictions or conditions upon sale, depending on what is spelled out in your governing documents. You may be required to hold title to the property for a certain period, restrict your sale to...
A local travel agent can help you answer your question.
Typically, the association's board is interested in working with a vendor who is licensed, bonded and insured. Experience as a contractor can equip the vendor with the knowledge and expertise to effectively maintain the complex. The work of maintaining a condominium complex involves the preservation...
Generally, liens for non-payment of assessments remain on the title to the property indefinitely and can be reflected in the owner's credit report. A lien placed on the title by a contractor may have different parameters that one placed on the title by the condominium association. Your best...
Regardless of who ruled, the US FCC has published guidelines regarding legal placement of signal antennas. Generally, the limits are that the antenna be placed within the unit's 'boundaries', and installation be approved by the condominium board.As well your governing documents may define the...
Read your lease and read the association's governing documents to  determine the grounds for eviction from your residence.   There is no standard.