Jersey City New Jersey Agreement to Manage Condominium Complex
Category:
State:
Multi-State
City:
Jersey City
Control #:
US-02391BG
Format:
Word;
PDF;
Rich Text
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Description
The term "condominium" refers to a type of group ownership of multiunit property in which each member of the group has title to a specific part of the improvements to the real property, and an undivided interest with the whole group in the common areas and facilities. Each condominium owner in a multiunit structure has title to the "family unit" in fee simple, while holding an undivided interest in stairways, halls, lobbies, doorways, and other common areas and facilities.
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