Guide to Buying Condos
What is a Condominium?
Condominium is an arrangement of ownership whereby a tenant iun a complex of multiple dwelling units hols full right and ownershp to his/her unit and a joint ownership in the common grounds or areas.
It is an interest in real property consisting of absolute ownership of a unit in a residential, commercial or industrial building and joint or common ownership in the land on which the building is erected and in other common areas of the condominium project or complex.
It is a building or group of buildings, in which units are owned individually, and the sturcture, common areas and facilities are owned by the owners on a proportional undivided basis.
Condominium refers to a building in which each individual unit is held in separate private ownership and all floor space, facilities and outdoor areas used in common by all tenants are owned, administered and maintained by a corporation created an appropriate law.
Pros and Cons of Buying Condos
What you should know before buying condominium. Click the links to read the articles or download these articles.
A Beginner's Guide to Condominiums