A condominium is a combination of co-ownership and individual ownership. Those who own an apartment or a condominium are co-owners of the land and of the halls, lobby, and other common areas, but each apartment or condominium unit in the building is individually owned. In some States, the owners of the various units in the condominium have equal voice in the management and share an equal part of the expenses. In other States, control and liability for expenses are shared by a unit owner in the same ratio as the value of the unit bears to the value of the entire condominium project. The bigger condominium owners would have more say-so than the smaller condominium owners.
This Agreement to Lease a Condominium Unit is similar to a lease of an apartment.
Condominium Without Apartment Block In Harris
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Harris
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US-00413BG
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Harris County Clerk Real Property Department Harris County Civil Courthouse. 201 Caroline, Suite 320. (713) 274-8680.
In Singapore and Malaysia, "Condo" or "inium" are terms used for housing buildings with some special luxury features like security guards, swimming pools, or tennis courts.
While iniums are similar to service apartments in Singapore in terms of amenities, the main difference is that a inium doesn't usually have hotel services like housekeeping, and while an apartment building is often owned by a single person or corporation, a inium is owned by the residents themselves, ...
The most important difference between an apartment and a inium is ownership. Indeed, an apartment is a residence that is rented, sometimes in a residential building. A condo has a similar structure, usually bigger than an apartment, but condos are owned.
Public housing in Singapore is managed by the state's Housing and Development Board (HDB), hence their flats are commonly termed 'HDBs'. Over 80% of Singapore's population live in an HDB flat.
Inium structure means the principal building or structure intended for or constructed upon a lot or building site, together with any attached accessory structures; e.g. in a residential development, the inium structure would refer to the house and any attached garage.
An apartment complex is a group of several apartment buildings, usually under the same management. A inium is an apartment that is owned by an individual or family. (It can also be owned by a corporation.)
Generally, a inium is a private residence that is rented out to tenants, it can be a flat/apartment or an independent house. But in modern use 'condo' is referred to apartments and flats only. Plus, iniums are owned and rented by individuals so renting a condo is more of a personal, one-on-one process.
A condo, or inium, is one unit that is part of a larger building or community of other condos. When you own a condo, you own the space in your own unit. Common spaces — enentrances, lobbies, hallways, rooftop decks and other shared areas — are the property of the condo association.