Condominium Act Form 5 In North Carolina
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FAQ
Condo owners share ownership of the common areas with other owners, while common areas in townhouse developments are usually owned by the homeowners' association for the benefit and use of unit owners.
The General Statutes of North Carolina is the official North Carolina legal code, a collection of the statewide laws in force at the time of publication regardless of when they originally became law.
Townhouses offer more living space and share walls with adjacent properties, while apartments are single-level units within larger buildings and usually offer shared amenities.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas. (informal condo) an apartment in a inium.
Generally, the North Carolina inium Act requires unanimous approval of amendments that shift the allocation of undivided interests in the common elements or in the common expenses. A covenant amendment as to the party responsible for limited common element maintenance is not such an amendment.
The Thailand inium Act defines a inium as a building that can be separated into units for individual ownership and which include personal and common properties (land on which the building sits, hallways, elevators, etc.).
