Condominium Meaning In Real Estate In San Diego
Description
Form popularity
FAQ
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 inium, often shortened to "condo," is a form of housing tenure where a specific unit or apartment is individually owned, while the common areas of the property are jointly owned by all the condo owners within the complex.
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.
(b) A inium consists of an undivided interest in common in a portion of real property coupled with a separate interest in space called a unit, the boundaries of which are described on a recorded final map, parcel map, or inium plan in sufficient detail to locate all boundaries thereof.
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
Condos are individually owned units within a larger building, while apartments are rented units managed by a property company.
The main difference comes down to ownership. iniums are owned by individuals and rented out privately (this is your typical landlord). In contrast, apartments are generally owned by property management companies who rent and manage all the units, creating a more standard approach and leasing process.
Standard examples are the Canton and Enderbury Islands (a British–American inium from 1939 to 1979), the New Hebrides (a French–British inium from 1906 to 1980), the Samoan Islands (a German-British-American inium from 1889 to 1899), Sudan (a British–Egyptian inium to 1956), and Togoland (a ...
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.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas.
