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 Real Estate Definition In Middlesex
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Multi-State
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Middlesex
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US-00455
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Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
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 condo owner. Basically, the British say flat, not apartment. The ownership structure is as follows: The UK equivalent of a inium is a commonhold property, with common areas and freehold areas (private areas). And flats in this case are owned by unit-holders.
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.