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Does a townhouse own the land beneath it whereas a condominium owners own only the unit plus a part of shared common grounds and amenities?
Wiki User
∙ 14y ago
Yes, typically the extent of the actual land owned in each is different.
Generally, a townhouse is one of a row of attached dwellings that share common side walls. Therefore, a townhouse is an individually owned building attached in a row with other individually owned buildings. Each townhouse owner owns the land beneath that unit. To confuse the issue of townhouses, some condominiums are called townhouse condominiums. In that case the term refers to the style of the condominium buildings.
A condominium unit owner owns a unit and a proportionate interest in all the land beneath the condominium community and the common areas based on the size of their unit. All the interests of all the unit owners would add up to 100%. That interest is expressed as, “Unit 201 including a .0987 percent interest in the common areasâ€.
Wiki User
∙ 8y ago
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Doesn't townhouse ownership include the land beneath it versus a condominium where owners own only their unit plus a part of shared common grounds and amenities?
When you buy real estate, you are entitled to understand exactly what is included in your ownership.For a condominium, you can read the governing documents that detail the boundary between what is privately owned and what is owned in common, including limited common areas dedicated for your use.If the townhouse is part of a community ownership scheme, those governing documents give these details.Finally, if you have a question about what you own, your local county tax assessor will be able to tell you exactly what is included in your property tax payment.
Is a townhouse like a condo?
A little, but they are different. A townhouse is usually a row house, one of several attached buildings. They may have completely separate ownership. A condominium ("condo") is often more like an apartment but essentially it is a residence that is part of a group that has shared management and maintenance. The condo owner is responsible for inside the walls the a Home Owners Association (HOA) is responsible for the outside and the grounds. The condo owner will pay a monthly fee to the HOA for this work.
What amenities are available at the Gold Coast Caravan Park?
Gold Coast Caravan Park has an amenities building which has just recently been built on the grounds. They also offer pancakes on Sundays for a treat.
Who takes care of the condo building and grounds?
Generally, condominium 'buildings and grounds' are defined as common area, owned by all owners in common. Upkeep, maintenance, safety and preservation are the responsibility of the board. Owners' assessments pay for these tasks. You can read your governing documents to determine specifically who owns the 'building and grounds', and who is responsible for 'taking care of them'.
Is a condominium like an apartment?
In some cases a condominium is like an apartment. However, a condominium is form of fee ownership ( each unit owner is the absolute owner of their unit) by which several owners share ownership of a building(s) by each owning their respective units. In a condominium scheme each unit owner also owns a proportionate interest in all other common areas of the project such as the grounds, pool, laundry facilities, community rooms, etc.An apartment is generally a rental unit in the US and Canada. In Europe, an apartment can be a rental unit or a unit in a building that is owned in fee much like a condominium.
Is a lawn considered a common area in condominiums?
Read your governing documents to determine the extent of the lawn common area under management of the association, and which, if any, portions of lawn are under the care and maintenance of individual owners. There is no standard.
What is the meaning of the word condominium?
The word condominium generally means sharing ownership with others. A condominium is legal arrangement whereby multiple owners share ownership of real property. A portion of the property in the form of units is individually owned and the rest of the property is owned in common with all the unit owners subject to the provisions of the Declaration that created the condominium and to the provisions of state law. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium such as pools, recreation areas, game rooms, community rooms, elevators, stairwells, corridors, streets, surrounding land, laundry rooms, and unassigned parking areas. By the acceptance of their unit deed each unit owner agrees to have their unit subject to the provisions in the Master Deed. Although a condominium is governed by statutory law, can promulgate rules and regulations and assess monthly maintenance fees, the ownership of a condominium unit is considered a fee simple estate.
What is the meaning of 50 years in condominium?
Without a context or more information, the only answer can be 50 years is 50 years.AnswerThere are two meanings of the word condominium as follows:In Real Estate and Property Law: A condominium is defined as a building or complex in which units of property, such as apartments, are owned by individuals and common parts of the property, such as the grounds, common areas, facilities and building structure, are owned jointly by the unit owners.In International Law: Joint sovereignty, especially joint rule of territory by two or more nations, or a plan to achieve it. This meaning is more of a concept than a reality and actual cases are rare.Therefore, 50 years "in condominium" can mean the territory has been under joint sovereignty for 50 years. It can also mean a residential or commercial condominium project is 50 years old.
What can one do when condominium board is not providing maintenance of the total grounds only certain areas?
Assuming that 'one' is an owner of a condominium unit, one can approach the board with a written request to expand the maintenance tasks to include the grounds not currently being maintained.In preparation for presenting the written request, 'one' can read the association's governing documents to ascertain that the un-tended grounds are indeed owned by the association and defined as common or limited common area included in the 'grounds maintenance' definition. (Owners' assessments pay for this maintenance.)Confirm that the board will address the issue at a board meeting. Then 'one' can attend the board meeting and listen to the board's discussion about your request. It's possible that the board will give 'one' a short period -- two or three minutes -- to present facts, photos, or other evidence that supports the request.The board has the ultimate voice in determining the answer to 'one's' request.
Where does the final battel of Harry Potter and the deathly hollows happen?
Within the grounds of Hogwarts.Within the grounds of Hogwarts.Within the grounds of Hogwarts.Within the grounds of Hogwarts.
What were the training grounds in the civil war?
the training grounds
Why would a 1994 Chevy Camaro keep burning up alternators?
RESISTANCE-Make sure the GROUNDS are Good.Engine Grounds-Frame Grounds-Body Grounds-Battery Grounds Be careful of cheap rebuilt alternators. Sometimes cheaper is not better.
