Seller agrees to sell and the buyer agrees to buy a condominium unit under the terms and conditions of the contract. Other provisions of the agreement include: closing costs, deposits, insurance and proration.
Define Condominium In Real Estate In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00455
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Inium Definition: A form of real property with portions of the real property designated for separate ownership or occupancy, and the remainder of the real property designated for common ownership or occupancy solely by the owners of those portions. TUCA Sec. 82.003.
The Texas Uniform inium Act contains a provision which states that unless a declaration provides otherwise, a inium building may be terminated and sold if 100% of the owners agree. It also allows unit owners associations to adopt a rule allowing for a lower threshold of 80% of the votes.
A inium is type of living residence within a multi-unit complex where each unit is individually owned. iniums are commonly called condos, for short. The origin of the term 'inium' comes from Latin meaning "joint rule."
A inium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
Etymology. inium is an invented Latin word formed by adding the prefix con- 'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'.
If a building "goes inium" it changes from having rented apartments to having owned apartments.
An example of a condo is a large apartment building where you own your individual apartment but also share in the maintenance of the building's roof, hallways, lobby, elevators, driveway, landscaping, pools, fitness center, and other amenities.
A inium Information Statement (CIS) is the packet of documents provided to buyers purchasing a condo unit that is newly constructed or recently converted from a different use.
For example, a garden inium complex consists of low-rise buildings built with landscaped grounds surrounding them. A townhouse inium complex consists of multi-floor semi-detached homes.
More info
Condominiums are housing units in a large property complex that are sold to buyers. While apartments are generally rented, condos are owned.You may fill out the change of address form or simply make the request in writing. Search 353 condos for rent in Bexar County, TX. See detailed rental info and photos. What does the 'OCL' designation signify in Bexar County's zoning regulations? The 'OCL' designation stands for Outside City Limits. San Antonio Real Estate and South Texas ranch property. Free access to view complete San Antonio Home Search database. All rental housing projects must have average residential rents (the average rent across all residential units) less than. All rental housing projects must have average residential rents (the average rent across all residential units) less than.