Condominium Real Estate Definition In Hillsborough
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(26) “Residential inium” means a inium consisting of two or more units, any of which are intended for use as a private temporary or permanent residence, except that a inium is not a residential inium if the use for which the units are intended is primarily commercial or industrial and not more ...
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.
In essence, the main difference between most HOAs and condo associations is the type of property they represent. iniums represent condos – apartments, while HOAs represent houses. Regardless of the association, they are both democratic institutions and therefore need to conduct elections.
The 2022 state condo law, known as SB-4D, and its 2023 follow-up, SB-154, establish three primary requirements: licensed inspections, reporting and disclosures, and reserve funds. Importantly, these laws are not tax legislation that directly increases housing costs on condo owners.
As defined by section 718.103, Florida Statutes, “inium” means that form of ownership of real property created pursuant to Chapter 718 of the Florida Statutes, which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in ...
Under the statute, a inium is residential either if the units are intended for temporary or permanent residence or if the units are not to be used primarily for commercial or industrial use.
ASC-1 - Agricultural, Single Family Conventional. The purpose of this district is to encourage agricultural and related uses and permit single-family conventional development in a rural environment on lots containing a minimum of one (1) acre. Residential Districts.
C1 (Neighborhood Commercial) Zone permits neighborhood commercial activities and small-scale freestanding businesses. DEVELOPMENT REQUIREMENTS.
ASC-1 - Agricultural, Single Family Conventional. The purpose of this district is to encourage agricultural and related uses and permit single-family conventional development in a rural environment on lots containing a minimum of one (1) acre. Residential Districts.
The principal purpose of the R-1 (single-family residential) zoning district is to conserve and protect single-family residential development. Principal uses permitted in this zoning district include single-family dwellings, churches, schools, parks and community facilities.
