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In any real estate ownership situation, according to Wikipedia:
" An encumbranceis a right to, interest in, or legal liability on real property that does not prohibit passing title to the property but that diminishes its value. ...
"Encumbrances include security interests, liens, servitudes (e.g. easements, wayleaves, real covenants, profits a prendre), leases, restrictions, encroachments, and air and subsurface rights."
Some will consider the covenants, conditions, restrictions and reservations/ regulations (CC&Rs) defined in your governing documents as encumbrances.
Your board or association manager can help you understand what elements of your real estate assets fall under this definition: there is no standard.
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Are the common areas included in condominium title search?
Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.Yes. A title examination for a condominium unit covers the entire community. Any encumbrances that affect the common areas will be reported.
What is Resort Condominium International?
There is a company named Resort Condominium International (RCI), that affiliates with resort properties and markets them together with other travel services.
Is a credit check done on property or the persons name?
On the person whether a natural person or a corporation. Properties are checked for liens or other encumbrances on the title of the property.
Can a condominium declaration be cancelled?
Condominium projects are created pursuant to state law. The governing law in your state would be recited in the body of the Master Deed that ceated the condominium. You would need to review the Master Deed for the statute and research that statute to determine how to withdraw the property from its status as a condominium. It can be done. The provisions for terminating a condominium are set forth in the statute and generally involve the assent by majority of (or all) the owners. The most common withdrawal involves a failed condominium project. In that case all the units are acquired by a single owner and that owner can apply to remove the property from classification as a condominium. Such projects are converted into rental properties. You need to check the law in your state.
What is a highrise condominium?
A high rise condominium is a tall building with condominium units.
Where could one find Brea condos for sale?
Brea condominiums are for sale in Brea, California. For example, one condominium from 155 Olinda Dr APT 1 is estimated to be $339,500 per the most recent condominium properties directory on the website Zillow.
What is the difference between a condominium unit and a condominium phase?
A condominium unit is a single unit in a condominium project, whether residential or commercial. A condominium phase is a development period, during which a developer builds, finishes and/or sells a set or collection of condominium units.
can you help me with govt accountant and encumbrances?
yuh
Where on a balance sheet is Reserve for Encumbrances?
Assets
When was the declaration of condominium of oceanquest condominium recorded?
You can find the answer you want in your local hall of records where the Oceanquest Condominium is located.
What does no restrictions or provisions mean on deeds?
That means the land is transferred free of encumbrances or additional rights that inure to the property. However, encumbrances are not always mentioned in deeds. That is the reason why every purchaser should arrange to have the title examined to determine if any encumbrances were mentioned in prior deeds.
When was Carbonell Condominium created?
Carbonell Condominium was created in 2005.
