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Refinance and Mortgage Encyclopedia - condominium

Condominium

A building or development with individually-owned apartments or houses. The ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). has a deedWritten instrument which when properly executed and delivered conveys title to real property from one, and possibly a mortgageIncludes all forms of debt for which real property, that is, land and/or buildings, is given as security., on the unit. The owner holds a common or joint ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection in all common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development and facilities that serve the project; landThe material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock,, roofs, hallways, entrance, elevators, etc.

Condominium

A formThis is an insurance policy, or the riders and endorsements attached to it. of ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection in which individuals purchase and own a unit of housing in a multi-unit complexIn real estate, a group of buildings, site improvements, and support facilities designed to carry out. The ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). also shares financial responsibility for common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.

Condominium

A formThis is an insurance policy, or the riders and endorsements attached to it. of ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection in which individuals purchase and own a unit of housing in a multi-unit complexIn real estate, a group of buildings, site improvements, and support facilities designed to carry out; the ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). also shares financial responsibility for common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.

Condominium

A real estateThe physical parcel of land and all improvements permanently attached. An identified parcel or tract project in which each unit ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). has titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to a unit in a building, an undivided interestThis is the amount that is imposed when payment is remitted after the due date. in the common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development of the project, and sometimes the exclusive use of certain limited common areas.

Condominium

A real estateThe physical parcel of land and all improvements permanently attached. An identified parcel or tract project in which each unit ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). holds titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to an individualA person as defined. unit in a building, and an undivided interestThis is the amount that is imposed when payment is remitted after the due date. in the common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.

Condominium

A single real estateThe physical parcel of land and all improvements permanently attached. An identified parcel or tract unit in a multi-unit development in which a personAn individual, corporation, partnership, Limited Liability Company or other legal entity. (REF CGS ยง38a-1(14)). has both separate ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection of a unit and a common interestThis is the amount that is imposed when payment is remitted after the due date., along with the development's other owners in the common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.

Condominium

A structure of two or more units, the interior space of which are individually owned. The common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development are owned as tenants in commonA form of joint property ownership in which the owners may have unequal shares and which does not involve by the condomium owners, and ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection is restricted by an associationA group. Often, associations can offer individual health insurance plans specially designed for their members..

Condominium

A unit in a multiunit building. The ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). of a condominium unit owns the unit itself and has the right, along with other owners, to use the common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development but does not own the common elements such as the exterior walls, floors and ceilings or the structural systems outside of the unit; these are owned by the condominium associationA group. Often, associations can offer individual health insurance plans specially designed for their members.. There are usually condominium association fees for building maintenance, propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. upkeep, taxes and insuranceFunds collected as part of the borrower's monthly payment and held in escrow for the payment of the on the common areas and reservesFunds that an insurance company sets aside to pay claims and claim expenses. for improvementsAn addition to land which costs labor or capital (buildings, pavements, etc.), more or less permanently.

Condominium

An estateThe ownership interest of an individual in real property. The sum total of all the real property and in real propertyThe type of property ascribed to real estate investments, such as houses, land, buildings, retail stores, malls, etc. wherein there is an undivided interestThis is the amount that is imposed when payment is remitted after the due date. in common in a portion of real propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. coupled with a separate interest in space calledAnother term for exercised when an option is a call. In the case of an option on a physical, the writer a unit, the boundaries of which are described on a recorded final mapShort for the Military Assistance Program, the overall program delivering services to military members, parcelAn area of land, of any size, that is capable of being conveyed by a single legal description in one ownership. map or condominium planA debtor's detailed description of how the debtor proposes to pay creditors' claims over a fixed period of time.. The areas within the boundaries may be filled with air, earth, or water or any combinationWhen two or more parcels are combined into one parcel. and need not be attached to landThe material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock, except by easementsThe legal rights that give someone other than the owner access to use property for a specific purpose. for accessRight to enter or use health care services. and supportIn technical analysis, a price area where new buying is likely to come in and stem any decline. See Resistance..

Condominium

An individually owned unit in a building with many units.

condominium

An individually owned unit within a multi-unit building where others or the Condominium Owners AssociationA group. Often, associations can offer individual health insurance plans specially designed for their members. shareOwnership of publicly held companies occurs through the sale of shares of stock. Shares are often issued ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection of common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development such as grounds, parking facilities and tennis courts.

Condominium

Fee ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection of a unit in multi-unit building with joint ownership of common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.

Condominium

Ownership is mandated by statue and requires publication of a declaration creating the condominium (sometimes calledAnother term for exercised when an option is a call. In the case of an option on a physical, the writer a horizontal propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. regime). FeeWhen applied to property, an inheritable estate in land. tile to a condominium provides the ownerThe full name of the primary owner of the property parcel.(e.g. John P. Doe). with horizontal and vertical space as well as an undivided interestThis is the amount that is imposed when payment is remitted after the due date. in other appurtenanceThat which belongs to something, but not immemorially; all those rights, privileges, and improvements, such as landThe material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock,, recreation facilities, exterior walls, roof, elevators and basements. Known as common elements. There are several types of condominiums: high-rise, walk-up, garden type, and commercialProvides coverage for liability, physical damage, and other exposures for automobiles owned or leased use. 1. A formThis is an insurance policy, or the riders and endorsements attached to it. of fee ownershipThe right of one or more persons to possess and use property to the exclusion of all others. A collection of separate units or portions of multi-unit buildings that provides for formal filing and recordingThe recording in a registrar's office of an executed legal document. These include deeds, mortgages, of a divided interest in real propertyThe type of property ascribed to real estate investments, such as houses, land, buildings, retail stores, malls, etc.; 2. A multi-unit structure or property in which persons holdUsed to indicate that a certain amount of a customer's balance may not be withdrawn until an item has fee simpleThe most comprehensive ownership of real property known to law; the largest bundle of ownership rights titleTitle is the evidence of ownership. In essence, title is more important than ownership because having to individualA person as defined. units and an undivided interest in common areasThose portions of a building, land, or improvements and amenities owned by a planned unit development.
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