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You are separated if you purchase a condominium with your own earnings will the condominium be considered marital property?
Wiki User
∙ 14y ago
Any answer must depend on the marital property laws in the state where you live/ claim residence, and any property agreements made in your separation documents.
Your lawyer will give you a correct answer once you've presented all the legal facts involved.
Wiki User
∙ 14y ago
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Is condominium unit considered real property?
Yes. A condominium is real property and is an estate owned in fee: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. 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.
In California are lottery winnings considered cummunity property if the couple is separated?
No
If you are separated and you make several personal purchases cars boats furniture big screens etc with individual earnings from work are these purchases considered marital property?
Make sure you put the title of the land as a "married person, as his sole and separate property. The spouse shouldn't be able to touch it. (From Experience--but I am not a lawyer.)
Who pays the property taxes for a condominium unit in Florida?
If Florida is like most other states, a condominium unit owner pays property taxes for the unit.
Do you pay property tax on a condo?
A condominium is a home; it exists on real property; most condominium owners pay property tax.You can check with your local county or provincial assessor to find the answer you want.
What is the Condominium Propert Act for State of Missouri?
You can follow the link, below, to read the condominium property act for the State of Missouri.
Who pays for property insurance in a condominium?
In a condominium usually the board pays for property insurance on all common areas. An individual owner pays for 4 walls, the ceiling, the floor, the inside of the door, and everything in between.
How do you remove condominium property management?
Any manager for a condominium association is a vendor, usually under a contract. Read the contract to find the termination clauses.
What are the earnings of a real estate agent?
Earnings of an agent is the brooking amount from the customer to sell a property...
Are property rights associated with condominiums considered Fee Simple rights?
Your condominium-savvy attorney practicing in your state can answer this question for your particular property.(Your question may be based on some action you wish to take, in which case, you could ask another question about how to go about taking the action.)The answer may vary from state to state.For example, in Washington State, the developer owned the property, and submitted it to the provisions of the Washington State Condominium Act, and created the condominium community. Subsequently, each owner purchased an allocated interest in the property.You can read more about the fee simple definitions of real estate ownership, below.AnswerThe requirements for creating an estate in fee simple are simple: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. 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. 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.
Can an independent contractors earnings be garnished in Idaho?
No an independent contractors earnings can not be garnished in Idaho. However a levy may be placed on a person's property or rights to property.
What is the legal difference between a hotel and a condominium resort?
Legally, a hotel is owned by a single owner and the property managed for the benefit of both the owner and guests. Each condominium unit is owned individually, and its association manages the business of the condominium.
