Condominium ownership is best described as?
This style of ownership is best described as community real estate assets owned in common, with individual owners owning individual units within the community.
Is condominium parking space ownership without unit ownership possible?
No. Read your governing documents to discover parking space ownership options.
What is the Advantage of condominium ownership versus cooperative ownership?
Depending on your situation, you may find the answer by reviewing the details in the link, below. It's the best comparison of the two that I've found.
Why is condominium or cooperative ownership referred to as hybrid ownership?
Condos and Co-ops are different. In a condo, you own the inside of your unit and the condo association owns the land it sits on. In a co-op, you own one share of stock in a corporation that entitle...
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Is condominium ownership for life?
Yes. Once you purchase a condominium unit you own it for life unless you decide to sell it. You can leave it to your chosen beneficiary in your will or it will pass to your heirs-at-law under the s...
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