Condominium Meaning In Real Estate In Collin

State:
Multi-State
County:
Collin
Control #:
US-00455
Format:
Word; 
Rich Text
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Description

A Condominium, in real estate within Collin, refers to a type of housing where individuals own their individual units but share ownership of common areas. The Contract for the Sale and Purchase of Real Estate Developed Condominium Unit is essential for facilitating these transactions. Key features include detailing the property description, sale price, closing costs, and the responsibilities of both the seller and buyer. It requires the buyer's earnest money deposit and outlines provisions regarding the conveyance of title and potential contingencies such as financing. The form also specifies insurance responsibilities and proration of taxes and fees. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful in ensuring that all legal obligations are met, and the rights of all parties are clearly delineated. Properly filling and editing the form involves reviewing all sections carefully, particularly regarding the closing date and ownership details. This form serves as a foundational document that helps safeguard each party's interests throughout the transaction process.
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FAQ

What is another word for condo? iniumhouse timeshare co-op apartment block apartment house condo building duplex block apartments4 more rows

Inium | Business English an individual apartment in such a building: Search our website to find new condos for sale.

In England and Wales, one of the equivalent legal structures of a inium is commonhold, a form of ownership introduced in September 2004. As of 3 June 2009, there were 12 commonhold residential developments comprising 97 units in England and one commonhold residential development, comprising 30 units, in Wales.

An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas.

Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.

Apartment co-op condo townhouse. Weak match. timeshare.

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.

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.

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Condominium Meaning In Real Estate In Collin