South Carolina Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building

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Multi-State
Control #:
US-01355BG
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Word; 
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Description

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. This Agreement for the Sale and Purchase of a Condominium Unit is similar to an agreement for the sale and purchase of a lot and building.


Mixed-use development is the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building

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FAQ

Development projects may be classified as "mixed-use" if they provide more than one use or purpose within a shared building or development area. Mixed-use projects may include any combination of housing, office, retail, medical, recreational, commercial or industrial components.

These five categories include:Offices.Retail retail stores, shopping centres, shops.Industrial warehouses, factories.Leisure hotels, pubs, restaurants, cafes, sport facilities.Healthcare medical centres, hospitals, nursing homes.

What Are Mixed-Use Developments? Simply put, mixed-use developments are buildings that combine both residential and commercial spaces. This is achieved commonly by having the first few floors comprised purely of commercial spaces and situating the residential towers on top.

Mixed Commercial/Residential Development means a building or structure which is used for a mixture of commercial and residential uses, where the entire ground floor of such building or structure shall be used for commercial purposes.

A horizontal property regime allows units within one building to be sold and owned separately and owners of those units to own a common right in common areas of the building and property.

In short, a mixed-use building is a single building that houses three or more significantly-sized, revenue-producing businesses or ventures. While this might include several businesses, it is not the same as an office building, which houses only business offices.

Each co-owner, or owner of an apartment in a horizontal property regime, acquires condominium ownership, and owns his or her individual apartment, and has a common right to share, with other co-owners, in the common areas of the property.

A commercial building definition is one in which at least 50 percent of its floor space is used for commercial activities, such as retail, the providing of services, or food service (restaurants and the like).

A Horizontal Property Regime (HPR) is a zoning policy which essentially allows for two new houses to be built on a piece of land that was previously zoned for just one house.

For 'mixed use planning permission', this usually refers to land and/or buildings which are used for different uses which fall into more than one use. Mixed use planning permission for agricultural and farming developments can quickly turn into a never-ending nightmare with planning and construction.

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South Carolina Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building