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Read the governing documents to understand the boundaries between what you totally own and what you own in common with all other owners.
Often what you own totally is defined by 'from the paint in', from the studs in', from the wallboard in' and so forth.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoYes. Ownership of a condominium unit is a fee simple interest. That means you own that particular unit and can sell it, devise it to someone by your Will or it will pass to your heirs if you should die intestate.
When you own a condominium unit you own that unit and a percentage in all the common areas of the condominium project. Land owned in fee simple is owned completely, without any limitations or conditions. Fee simple is in contrast with leasehold interest under which you would be a tenant and not the owner.
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What are the advantages of having a condo?
The main advantage to having a condo is the property upkeep. Most condos have a condo fee, but this fee covers all outside maintainence, such as landscaping, lawn mowing, and snow plowing. Many condos also offer free exercise facilities.
What is undivided fee simple interest?
Fee simple absolute is the way we describe the complete and total ownership of real property. The owner in fee simple absolute has the right to full possession and control of the property and the property will pass to the owner's heirs upon death according to the terms of their will or according to the laws of intestacy if there is no will. Generally the conveyance of real estate by a deed conveys fee simple absolute. Generally, when we speak of "fee simple" we are referring to fee simple absolute. An undivided interest in property means that two or more persons own the real estate and each has the right to the use and possession of the entire property even if they own only a one-half undivided interest. Each has a 50% interest in the fee.
What should I pay a rental agent that found a renter for our condo from a flyer my husband left on a wall at the condo?
Pay the rental agent the fee the agent requests. The rental agent indeed found a tenant for you, and potentially screened the tenant, so you could include this tenant in the community that you own.
How to register a condo project with the right to sell fee simple deed in Pennsylvania?
Your condominium-savvy attorney can help you put together a public offering statement that includes this option, if it is allowed under Pennsylvania law.
Can a condo declaration be changed?
Of course. Often with a simple majority.
What is equitable fee simple?
Fee simple is the highest form of ownership of real property. Fee simple is absolute ownership. The owner in fee simple can sell the property or if they die while owning property it will pass to their heirs upon death by their will or by the laws of intestacy.An equitable fee simple would be an interest in real property that is something less than absolute ownership or fee simple. For example:A decedent died having a will and leaving their real property to their only child. The estate must be probated in order for legal title (fee simple) to pass to that child. If the estate is not probated that child would only own an equitable fee simple interest in the property. Their ownership would not be perfected until the parent's estate is probated.
What is the difference between fee and fee simple?
Both fee and fee simple mean that you are the absolute owner of real property. You can sell the land or leave it to your heirs.
How do you buy in simple fee your life estate?
If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.
A estate restricts ownership of real property to a particular family bloodline?
A. fee simple B. fee tail C. determinable fee D. fee simple absolute ANSWER: B Fee Tail
What does seized in fee simple mean?
That means you own absolute title to land, free of any other claims against the title, which you can sell or pass to another by will or inheritance.That means you own absolute title to land, free of any other claims against the title, which you can sell or pass to another by will or inheritance.That means you own absolute title to land, free of any other claims against the title, which you can sell or pass to another by will or inheritance.That means you own absolute title to land, free of any other claims against the title, which you can sell or pass to another by will or inheritance.
4 bed room condo on long island ny for rent no broker fee?
A local realtor can answer your question.
What is fee simple in state of Oregon?
Fee simple is the absolute ownership of land. The person who owns the land in fee simple can sell it during their life or leave it to their heirs when they die either by will or by intestate succession.
