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Who gets ownership if a condo unit is half owned by a trust under fl. law to settle estate?
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∙ 14y ago
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How is townhouse ownership different from a condo?
A condominium is always a form of real estate ownership, regardless of the style of the home.A townhouse is a style of home and can be owned outright, rented or owned as a condominium.In some places, the term 'townhouse' and 'condominium' are used interchangeably, but the two do not not always mean the same thing.
Who has ownership of longleat?
longleat is owned by lord bath he owns the estate
Do I have to go through probate court even if I am an owner of my deceased mom's condo?
If you and your mother owned the condo as joint tenants with the right of survivorship full ownership passed to you automatically when she died. All you would need to do is record a death certificate in the land records office. If she owned no other property in her name alone then her estate doesn't need to be probated. If you owned the condo as tenants in common, or, if she had property such as bank accounts in her name alone, then her estate must be probated. You should consult with an attorney unless the first paragraph above applies to your situation.
How do you differentiate a condominium from a guest house?
Condominium is a form of real estate ownership whereby all owners share ownership of the real estate assets, and own some assets individually. A guest house is a structure that can be owned under any form of real estate ownership .
What is condo house?
This phrase describes a house that is owned by deed as a condominium, meaning that all owners in the association own a percentage of the total real estate assets, based on individual allocated interests.
Is a condo terrace a common area?
There is no standard as to how terraces are owned in condominiums. Read your governing documents to learn about terrace ownership, maintenance, access and so forth.
What best describes how a condominimum is owned?
A condo is owned by the resident
What is condominium ownership?
This style of ownership is best described as community real estate assets owned in common by all owners, with owners also owning individual units within the association.
What part of condo is HOA responsibility to maintain?
The association is responsible for the safety, security, upkeep, preservation and maintenance of all real estate assets owned in common by all owners. Your governing documents define by boundary definition what is owned individually and what is owned in common.
Are external stairs common element in a condo townhouse?
Read your governing documents to determine which real estate assets you own, and which are owned in common with all other owners.Generally, there is a boundary inside your unit where your ownership begins: at the paint, at the back of the wallboard, at the studs, or whatever your governing documents dictates.Everything else in the real estate asset base is owned in common with all other owners, including limited common areas which are dedicated for use by fewer than all the owners.
What is the function of the condo?
The function of condominium ownership is to turn over the maintenance, security and safety of the real estate assets owned in common by all owners, together with the residents of the community, to a board elected by investor-owners. The board then, functions as the business leaders for a multi-million dollar corporation, depending on the type of corporation established for that association.
Can you hold ownership of real estate through a secondary contract without being on the deed?
NO. Ownership of real estate is evidenced by a deed recorded in the land records. If you don't want your name on the deed then you need to arrange to have the title held by another entity such as the trustee of a trust. In that case, the property would be owned by the trust.NO. Ownership of real estate is evidenced by a deed recorded in the land records. If you don't want your name on the deed then you need to arrange to have the title held by another entity such as the trustee of a trust. In that case, the property would be owned by the trust.NO. Ownership of real estate is evidenced by a deed recorded in the land records. If you don't want your name on the deed then you need to arrange to have the title held by another entity such as the trustee of a trust. In that case, the property would be owned by the trust.NO. Ownership of real estate is evidenced by a deed recorded in the land records. If you don't want your name on the deed then you need to arrange to have the title held by another entity such as the trustee of a trust. In that case, the property would be owned by the trust.
