Define Condominium In Real Estate In Fulton
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A inium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but share common spaces, amenities, and other resources.
Drawbacks of Owning a Condo Then, ongoing condo fees can increase over time, adding to your financial obligations. Maintenance costs are another factor for condo owners to weigh. While the community association takes care of common areas, you're responsible for repairs and upkeep within your unit.
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.
Lack of privacy: Condos share common areas, so you're going to have to regularly interact with your neighbors — a plus for some people, but a negative for others. Neighbors may also potentially hear each other through shared walls.
In California, inium conversions are regulated by a law called the Subdivision Map Act, and also by local law in the jurisdiction where the property is located. The local jurisdiction processes the conversion application and, once that application is approved, a subdivision map is recorded.
Apartment co-op condo townhouse. Weak match. timeshare.
What is another word for condo? iniumhouse timeshare co-op apartment block apartment house condo building duplex block apartments4 more rows
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
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.
