Condominium ownership definition

Condominium ownership means the individual ownership of a particular apartment in a building and the common right to a share, with other co‑owners, in the general and limited common elements of the property;
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Condominium ownership implies the individual units will be sold to individual property owners. A home owners association funded by the property owners will provide maintenance of the Central Paseo landscaping, recreational amenities, hardscape, common areas, private interior streets and project monument signage. All residential owners must adhere to Covenants, Conditions and Restrictions (CC & R’s) for the future maintenance of their property.
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Condominium ownership means as defined in the Act.
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Examples of Condominium ownership in a sentence

  • Condominium ownership regimes and plots may be recorded if the property is otherwise operated as a rental project with a single ownership entity owning all the apartments.Separate condominium units may be established for commercial use and for housing use which must include all the residential apartments.

  • Condominium ownership and property easement are registered into the condominium ownership registration which shall be kept according to the Title Deeds Registry Status.

  • Condominium ownership shall comply with Section 21.45(5) of this ordinance.

  • Condominium ownership signifies that the occupant of an apartment individually owns the specific part of the building which consists of the apartment in which that person lives.

  • Condominium ownership is another equity-based model where several non-profit organizations jointly invest in the purchase of a building.

  • Condominium ownership shall be registered according to an authenticated deed drawn up by the keeper of the land of register or by court judgment rendered according to the following paragraph.

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  • Condominium ownership shall not end automatically following the ownership of all independent divisions of the main property by a single person.

  • Condominium ownership right can not be attained on one particular or several parts of real property unless the ownership of the whole main landed estate is transferred into condonimium ownership.

  • Once title is unified, all the liens can be extinguished and the building is then “de-converted,” meaning that it is turned back into an apartment building.64 Condominium ownership and the association are dissolved by court order and the property is restored to operating condition as an apartment building.65 The statute prescribes the conditions for appointing a receiver, and it is evident from this list that conditions in these buildings were dire indeed.

Related to Condominium ownership

  • Condominium means a common interest community in which portions of the real estate are designated for separate ownership and the remainder of the real estate is designated for common ownership solely by the owners of those portions. A common interest community is not a condominium unless the undivided interests in the common elements are vested in the unit owners.

  • Condominium Plan means a plan described in Section 4285.

  • Condominium unit A Single Family Property within a Condominium Project.

  • Condominium Corporation means a condominium or strata corporation established under provincial legislation.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Condominium Act means Article 9-B of the New York Real Property Law (339-d et seq.), together with the administrative rules promulgated thereunder, and all amendments and replacements thereof, and all regulations with respect thereto now or hereafter promulgated.

  • Condominium Documents means the master deed, recorded pursuant to this act, and any other instrument referred to in the master deed or bylaws which affects the rights and obligations of a co-owner in the condominium.

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • apartment building means a residential use building, or the residential use portion of a mixed-use building, other than a townhouse or stacked townhouse containing four or more dwelling units each of which shall have access to above grade common halls, stairs, elevators, and yards;

  • Land means the land described in Exhibit A.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Residential building means a building containing one or more residential dwellings.

  • University property means premises owned, controlled or occupied by the University in the UK which are made available for use by the Supplier or its sub-contractors for provision of the Services (or any of them) on the terms set out in this Contract or any separate agreement or licence.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.