One basic difference between these two types of real estate
ownership may be the availability of lender financing. Generally,
co-ops must be purchased with cash, and condominiums qualify for
Check your state laws, all states are different when it comes to
worker's comp regulations.
Best practices dictate that you seek and pay for the assistance of
a professional who can help you add your spouse to your deed.
The Washington State Condominium Act -- RCW 64.34 (Revised Code of
Washington, section 64.34) -- documents the law in Washington State
covering condominiums built after July 1, 1990.
Depending on the situation that requires enforcement, there may be
several enforcing entities.
A recommendation is not a prescription. Yes, a condo can have by-laws that prevent you from having pets. You could attempt to bring a Civil Rights suit, but I don't believe it would be successful.
You can approach your board with a petition for exception. Ask the board to clarify its position on …
You should contact the law firm that represents the condominium and learn how condominium liens are handled in your state.
The government of Alberta is responsible for maintaining a record of ownership of land in the Provence. Read more, below.
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 declaran…
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…
In the United States a condominium is a form of fee ownership of a unit in a multi unit complex. An apartment (sometimes called a flat) is typically a rental property consisting of a room or suite of rooms in a building containing a number of such dwellings.
Residential condominiums are started by developers who either buy existing high-density, multi-family housing and convert it to condominiums, or who build new properties. The price of each unit depends on the location of the community, the amenities included there, and the interior size and finishes…
There are organizations in the US that specialize in community associations. Here are two:
Community Associations Network
Community Associations Institute
Property managers that specialize in partnering with condominium associations are usually affiliated with an organization that treats owned com…
Usually, the association must be dissolved in order for the association to cease. (It may not be in good standing under the guidelines of the Secretary of State, but not filing your annual renewal -- if one is required in your state -- but this may not automatically dissolve the association.) Your …
Depending on the state where the property exists, and depending on the legal status of the two different kinds of real estate ownership, there could be differences in prices and taxes, and rights.
Usually, for a condominium, an owner owns all the 'real estate' from some point in the walls inward: s…
Read your governing documents to determine the line where your ownership stops and where the ownership by common area or limited common area, the association's ownership begins.
Usually, individual ownership begins 'at the studs', 'at the skin', 'at the paint' or some other properly described line o…
Condominium associations are governed by: (1) State Law, (2) the documents creating the condominium, usually the Declaration of Condominium, and (3) the Bylaws of the Condominium Association.
Often, a condominium association will hire a property management company to manage the day-to-day operatio…
About 20 years ago, it was decided that age restricted communities were not legal. They (the supreme court, I believe) made a decision that this was age discrimination. Another answer: Seek the advice of counsel to potentially amend your CC&Rs to designate age restrictions for your association. …
The answer to this question may be strictly based on the geography where the condominium is located.
For example, the views could be:
Urban skyline view
Open meadow view
Golf course view
And so forth.Each regional real estate professionals' collectiv…
The condominium assessment established by the developer or by the board of directors covers payment for services and maintenance of the property owned in common by all unit owners of the condominium association.
Sewer and water
Not enough information is given to form an answer.
A letter of credit facilitates spending money quickly, by essentially pre-qualifying for a loan or other monetary assets in another's name.
The letter of credit assumes that the person or organization is financially stable enough…
A stairwell that leads to a single upstairs unit; a deck outside a condominium accessible only by one unit; the roof area accessible only by the penthouse; assigned parking slots assigned to a single unit.
There are other examples of limited common areas unique to unique condominium communities, …
The key to your claim is the zoning ordinance for the neighborhood.
You can discover your zoning classification in either your City Hall or in the County Assessor's office.
It may be that zoning allows both in your neighborhood.
Unless the construction permit process has failed totally, the devel…
The word condominium generally means sharing ownership with others. A condominium is legal arrangement whereby multiple owners share ownership of real property. A portion of the property in the form of units is individually owned and the rest of the property is owned in common with all the unit owne…
A banker in New Jersey can answer your question.
You can find the details you need in the City Hall for the city where you plan to build the condominium project. You may also need to register the project with the county and with the State of Pennsylvania.Your condominium-savvy attorney and help you register your project within Pennsylvania.
A condo or townhouse Homeowners' Association (HOA) governs a group of condos, wherein the association is responsible for the maintenance of the outside of the building(s), landscaping, and utilities, in addition to maintaining common areas and enforcement of the CC&Rs. This is because the proper…
Depending on the status of the unpaid assessments, you may need or want to write them off as bad debt.
If collection efforts are ongoing to recover the debt, I would not write them off, but as a conservative treasurer, I would discount them and consider something less than 100% of that value is proj…
You can find the answer you want in your governing documents.
Read all documents that cover parking, including your CC&Rs, your By-laws, any Parking Resolutions and board meeting minutes that cover the subject.Usually, owners are assigned parking spots and the spots are attached to the unit, as …
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 assessor's of…
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.
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. …
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 admi…
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 c…
No. If the dish is mounted in an area you have exclusive use over.
Here is the FCC guideline:
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 …
Check your governing documents, which will specify your board's power to mandate unit access parameters.
As well, check the NC state law governing condominiums to see how this topic is covered in state law.
The recorded instrument that is sometimes called a Declaration of
Condominium is the legal document that actually creates a
condominium development under relevant state law.
In Massachusetts it is called a Master Deed. A master deed submits
the real property and the buildings to the statutory pro…
A local realtor can answer your question.
You would need to check each particular condominium project to determine what it offers for facilities.
The governing documents for your association hold the answer to this question.
Best practices in condominium board work indicate that this is probably not a good idea, since there are no checks and balances available in conducting the business of the association if there is one person holding all th…
As the board secretary, you have responsibility for keeping the minutes of board meetings, because these minutes are part of the permanent history of the association. Board meeting minutes usually contain resolutions for motions, seconds and board vote counts. Often resolutions become an extension …
If Florida is like most other states, a condominium unit owner pays property taxes for the unit.
You can read your governing documents to be reminded of your obligation to pay your monthly assessments.
As well, you can find the process that the board follows in order to collect this debt from you.It may include ultimately selling your unit in order to satisfy the debt, and may include filing a …
A realtor in Bayside New York can answer your question.
Generally, bare land condominium is a term used in jurisdictions such as Alberta, Canada. A condominium plan is registered that subdivides bare land into separate smaller lots. A developer then constructs buildings on the parcels that may consist of multiple units or townhouse style units. The maste…
Yes of course it is. People with on-line businesses do it every day. Realize that registering it is different from operating it.
Review your governing documents to establish what is required of you and your business in order to operate your business out of your residential space.
Be aware that exces…
I am planning to buy a condo. The owner is dead. The real estate agent says that the money I give will go to Charity. This is what the owner wanted to do with the house. What documents shouldI ask the real estate agent , so that no body clims to be a son or daughter of this lady and ask me to give t…
The cost depends on the location, size, facilities, type, age, market, etc.
However, depending on why the spring's status is in question, it may be that replacing or repairing the spring is the responsibility of an individual owner.During regular preventative maintenance tasks for the garage door, the spring, which is integral to the operation of the aut…
A condominium association is a business. The business charter can be found in the covenants, conditions, restrictions and rules -- and other governing documents. The association collects monthly assessments and pays the bills to operate the association, including saving money each month to replace e…
The Wikipedia entry categorizes The Dakota as a 'condominium or housing cooperative in New York City'.
Read more using the link, below.
When you buy real estate, you are entitled to understand exactly what is included in your ownership.
For a condominium, you can read the governing documents that detail the boundary between what is privately owned and what is owned in common, including limited common areas dedicated for your use.If…
You can follow the link, below, to read the condominium property act for the State of Missouri.
You can research your answer from many sources, which include: Amount of land required to build the number of floors you planPermitting options from the City, County and StateArchitectural requirementsBuilding structural requirementsAnd so forth.A good place to start would be to interview a working …
The association filed a formal lien with the court, on your condominium home -- probably -- for unpaid assessments.
(Your monthly assessments pay bills to vendors who service the community, such as sewer, water, garbage, master insurance policy premiums, landscaping and so forth. When you don't pay …
Your governing documents specify the process the board must follow in order to collect unpaid condominium assessments by filing a lien.
In some states and counties, assessments automatically become liens against the title to the condominium unit, however the lien must be filed in order to be collect…
A condominium association is the business entity involved in condominium ownership. The condominium association is usually a non-profit corporation, and is listed with the Secretary of State in the state where the condominium community is located.
The Secretary of State's records are usually public …
Assuming that the partially sold condominium building is still within the declarant control period, and assuming that the declarant -- the developer -- leads the board, the declarant can protect his/her investment by renting units.
Your governing documents determine what rights the developer retai…
A real estate agent in North Dakota can answer your question.
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 individuals and common parts of the property, such as the grounds, common areas, facilities and building structure, are owned jointly by the unit owners. In…
You need to review the Master Deed and Declaration of Trust for the condominium, or any other set of governing documents.
Parking spaces and the use thereof should be addressed in those documents. You should also review your deed. If your unit was conveyed with a parking space then it can't be taken…
Depending on your situation, you may find the answer by reviewing the details in the link, below. It's the best comparison of the two that I've found.
Operating fees -- assessments -- are paid by owners to support community expenses, such as insurance, basic utilities and so forth.
Every association's governing documents detail the process whereby the association can pursue an owner to collect unpaid assessments.When the association files a lien o…
You can find the answer you want in your governing documents.
Depending on which governing document you want to amend, there may be different percentages of membership votes required to pass the amendment.When amending your governing documents, best practices indicate that you consult with your asso…
Depending on the age and condition of the commonly owned real estate assets, the board may decide to bring all assets up to a maintenance standard.
If the condominium is a new development, the developer should recommend a maintenance schedule with a list of tasks.Another option is to produce a maint…
Condominium is a type of real estate property, and they are
also known as Condo. It is a unit that's owned individually, with
the common areas of complex owned equally among all condo owners
under the umbrella of an association. A condominium carries an
individual deed for each unit. It is totally p…
A real estate agent in Brooklyn, New York, can answer your question.
Your question depends on the location of the association -- which state -- and the vendor that the association proposes to pay.
If, for example, you hold your Annual Meeting at the local sports palace, and you agree to a no-host bar, a buffet of snacks and use of the club room, the venue will probab…
For the condo association foreclosure to be valid, the bank who holds the mortgage must be notified of the foreclosure action, and the mortgage company has the opportunity to do a couple of things:
They can pay the delinquent condo fees themselves, to protect their own interests, and force the borr…
From the Forbes Investopedia Site, here is the definition of a Planned Urban Development (PUD):"A type of community zoning classification that is planned and developed within a city, municipality and/or state that contains both residential and non-residential buildings (such as shopping centers). Op…
You can take the condominium declaration and its rental options to the local-land-use zoning officer, and that officer can help you determine the answer to your question.
Every municipality may have a different set of guidelines and zoning regulations that cover local condominium units and their use…
You can ask the local electric company in Fairfax, Virginia what for the average electric bill for the Penderbrook complex, for a two-bedroom unit.
They may or may not be willing to give you that information.
Speak with the local US postal service and concider renting a post box at the nearest post office.
Given the steps that an owner would take in this case, such as:
Writing a letter to the board requesting that the issue be handled -- including the letter -- in a board meeting, and that the issue be documented in the minutes
Pointing to the budget line item that funds the installation of the mai…
Read your governing documents to understand what details must be included in a letter you plan to send to a unit owner to collect late assessments.
You may also want to include additional steps you plan to take if the late assessments are not paid.You can include in your letter, the language from yo…
You can work an association-savvy attorney familiar with Scrivener's Error forms, and present your evidence.
Yes, a condominium can put a lien on your condo. The condominium depends on your payments to keep up the common areas. As a result, it has the right to collect its fees plus interest when you sell it if you do not pay your assessments and a lien is filed. As well, the association may be able to sell…
This question can be best answered by seeking professional assistance from the association's attorney or tax counselor.
If the association's bank accounts are kept in the name of the association with signatory power given to the management company, your professional guide can help you protect the …
The value of condominiums, like most homes -- dwellings -- has either stabilized or lost value during these hard times. The most difficult condominiums to sell are probably those with higher assessments.Conversely, this is probably a great time to buy a condominium, because the value for the investm…
You need to review the Master Deed of the Condominium to determine if the right to amend the by-laws was reserved, to whom it was reserved and the process by which amendments may be made.
You can find the answer you want in your governing documents.
If no renting is allowed, and you are forced to rent your unit in order to preserve your ownership and avoid foreclosure, for example, you can petition the board for an exception to its no-rent rule.Most boards -- in these hard financial …
Tick pointing: the process of repairing or replacing the mortar between bricks. Read your governing documents to determine who owns the bricks and who is responsible for maintaining them.Usually, if the bricks are on the exterior of the building, the association owns the real estate asset and is res…
You need to review the Master Deed to determine if the Board of Directors must be comprised of property owners. If that is the case then your spouse would not be eligible.
A local builder or architect can answer your question. There are too many variables to give you a firm, exact answer.
Condominium ownership means paying bills for the community each
month through assessments. Bills cover master insurance policy
premiums, payments to reserves -- a savings account used to pay for
major repairs to the buildings, such as a new roof, new windows,
paint and so forth. In addition, assessm…
Condominium projects are created pursuant to state law. The governing law in your state would be recited in the body of the Master Deed that ceated the condominium. You would need to review the Master Deed for the statute and research that statute to determine how to withdraw the property from its s…
Depending on the country where you live, as owners, you may be able to alter the governing documents to this extent, and usually it will take a large majority of owners -- such as 67% -- to make this kind of major adjustment.
Your governing documents -- together with advice of council -- can help yo…
As best I can understand it, a zero lot line organization assigns ownership and responsibility for upkeep and maintenance to areas of property where housing exists. The extent of the lot, which may be particularly close to a neighbor or the street, is also owned by the home owner.
In a condominium, …
All condominium associations are led by boards of directors,
because the association is a corporation.
Some board members -- and too many owners -- fail to read the
governing documents established to guide the business of the
association. As a result, the board may not act in leadership
The governing documents for the condominium association, known as Covenants, Rules, Regulations and Restrictions (CC&Rs), the associated By-laws and any Board Resolutions constitute the steps and processes involved in an eviction process.
As well, there may be state laws regarding eviction that …
since its too far away from someplace, some condominiums provide a free bus service to nearby malls, train stations etc
Every condominium project is organized under governing documents that include rules and regulations. Most allow pets and some do not. You would need to check any particular condominium to determine if cats are allowed and the rules that govern pet ownership.
The size of parking spots can be determined by reviewing several key documents:
The governing documents for the association
The local municipal laws covering the size of parking stalls
The state law covering the size of parking stalls, including any laws that require special handicap parking requir…
Generally, it's a good idea to have a set of keys for a condominium, so you can unlock the door.
As well, your governing documents may also require that you store a spare set of keys with the property manager, so that in case of an emergency, your condominium unit can be accessed without breaking do…
Generally the term 'condominium resort' refers to a collection of residences built in a resort area. A unit in the complex may be referred to a 'resort condominium'. Sometimes the governing documents require that the residence be available for rent for a fixed minimum number of days or weeks during…
This is a public document, a copy of which you can find on file at your local county or provincial property tax assessor's office.
Creditors may certainly look to seize/attach your assets of most types to pay the debts you promised or obligated to pay and don't. They also get to recover any costs for having to act to have you adhere to your legal obligations. However, they must have court authorization to do so, and commonly, o…
Refer to your last similar Q.
Yes you have a 125K Federal Homestead Exemption.
Yes you have issues that need to be protected by an attorney in the BK process (any creditor will have one and they will want to seize the house - which if not properly homesteaded and then defended, can still happen. A…
The answer depends on the fabrication materials of the walkway.
Contact the materials' vendor and ask whether water-seal is recommended, and if so, what products are recommended to seal the walkways.
Depending on which documents you want, you can look online in the county assessor's database, in the property manager's database or in the condominium online database. Be aware, however, that there may be no requirement that condominium documents be made available online, even to registered owners …