Hey!mates my question is too simple Define our condo not more than ,200 words
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Answer:
Explanation:
A condominium is a large property complex divided into individual units and sold. Ownership usually includes a nonexclusive interest in certain "community property" controlled by the condominium management. Condominium management is usually made up of a board of unit owners who sees to the day-to-day operation of the complex, such as lawn maintenance and snow removal.
KEY TAKEAWAYS
A condominium, more commonly known as a condo, is a property complex that is owned by an individual. Residential highrises are an example of condos.
A condo owner owns the air space inside their condo, sharing an ownership interest in the community property, such as the floor, walls, sidewalks, stairwells, and exterior areas.
A general requirement of a condo owner is monthly payments to a Homeowner’s Association (HOA), which is in charge of property upkeep.
The main difference between an apartment and a condo is ownership, where an apartment is generally rented, while a condo is owned.
Condominium developers differ in the ways they provide parking spaces and garages to unit owners. In some developments, these spaces are reserved as limited common areas, and the homeowners' association (HOA) maintains ownership but gives exclusive rights for the unit owner to use the space or garage. In other developments, the unit owner buys the garage or parking space and has ownership. However, the covenants, conditions, and restrictions may still limit the owner's ability to sell or rent the space independent of the unit itself.
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Answer:
an apartment building in which eachapartment is individually wholly owned and the common areas are jointly owned.
noun. an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc., that unit and sharing in joint ownership of any common grounds, passageways, etc.
A condo, which is short for “condominium,” is a private residence owned by an individual homeowner or family in a building or community with multiple units or townhouses. Although they are usually part of a larger high-rise building, "detached condominiums" also exist.
Explanation:
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