Yes. Once you purchase a condominium unit you own it for life unless you decide to sell it. You can leave it to your chosen beneficiary in your will or it will pass to your heirs-at-law under the state laws of intestacy if you have no will.
Condominium is a form of real estate ownership; house is a word used to describe a structure.
Condominium is a form of real estate ownership; house is a word used to describe a structure.
A condominium is a form of real estate ownership that includes ownership of a unit, plus communal ownership of other real estate assets.A townhome can be a style of home.If you purchased a townhome-style home in a condominium community, you are permanently attached to the condominium community.It's association and governing documents apply to your townhome.
Your answer depends totally on the condominium and its real estate assets, and your access to them depending on your ownership. There is no standard.
Condominium is a form of real estate ownership, and may be commercial or residential.
Condominium ownership is a form of real estate ownership whereby an owner is responsible for both the costs of the unit, and for a share of the expense related to the upkeep of the whole community.
Once you purchase a condominium unit, whether you are its first owner or subsequent owner, the condominium declarations will always be in force.
Single owner title is the opposite of condominium title ownership, both of which are forms of owning real estate assets.
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 apartment, especially, in urban high-rise buildings.
A sanitorium (or sanitarium) is a medical facility for long-term illness. A condominium is a form of real estate ownership.
Yes, a condominium unit is considered real property because it consists of a physical structure and land, which are the defining characteristics of real property. Each individual owns an interest in the unit and common areas, which collectively form the condominium property.
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