A condominium is a combination of co-ownership and individual ownership. Those who own an apartment or a condominium are co-owners of the land and of the halls, lobby, and other common areas, but each apartment or condominium unit in the building is individually owned. In some States, the owners of the various units in the condominium have equal voice in the management and share an equal part of the expenses. In other States, control and liability for expenses are shared by a unit owner in the same ratio as the value of the unit bears to the value of the entire condominium project. The bigger condominium owners would have more say-so than the smaller condominium owners.
This Agreement to Lease a Condominium Unit is similar to a lease of an apartment.
Condominium With Apartment Block Meaning In San Jose
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It also makes purchase of apartment houses, income property and condominiums a high cost task for anyone seeking to enter the market for the first time. The regulatory burdens, slow permit approval process and expensive labor make it extremely hard to build in California.Discover the secrets to condo buying in San Jose, California. Your essential guide to securing the perfect urban oasis. San Jose, located in California, has clear laws and guidelines for converting singlefamily homes into duplex properties. Accessory Dwelling Units (ADUs) and Junior Accessory Dwelling Units (JADUs) are an innovative and effective option for adding much needed housing in California. San Jose will allow property owners to sell ADUs on their property. San Jose becomes the first city in the state to move forward with the effort. Apply for affordable housing at Grove Apartments in San José, built in partnership with Exygy.