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.
Condominium Meaning In Real Estate In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-00455
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
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.
A inium, or condo, is an individually owned unit in a complex or building of units. A condo owner owns the space inside their condo and shares ownership interest in the community property, such as the floor, stairwells, and exterior areas.
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."
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.
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
Deeds and additional ownership documentation (circa 1810 to present) is available online or in person at the Recorder's Office, located on the 4th floor of the Cuyahoga County Administration Building.
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.
A condo building is a large property complex divided into individual units, each separately owned. Condo buildings give you an exclusive living space stacked in a community setting. You own your unit, but you also share ownership of the common areas and facilities with your fellow residents.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas.
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.