Condominium Real Estate Definition In Fulton
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FAQ
Flat and condo are the same thing – a set of rooms that is on one floor. In USA, a flat is usually rented, while a condo is owned.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas.
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.
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.
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.
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
Summary. A inium is multi-unit complex building where each unit is individually owned by different people. They generally have many extra amenities and common spaces that are collectively owned by all residents in the complex.
Which three documents must be filed with the Georgia Land Office to create a inium community? Plat, floor plans and declarative statement.
