Do you have a tax liability if given a condo?

Answer Yes.Like on any home, you will pay a property tax. You can discover the amount by inquiring of your county or provincial property tax assessor where the condominium is situated.

Top Q&A For: Do you have a tax liability if given a condo

What is a condo owner's liability if his overflowing bathtub water damaged my unit?

You can work with the board to determine who has the responsibility to repair the damage and then who has the responsibility to pay for the repair, because the two responsibilities may be different... Read More »

Do boundary lines on condo divided land have any legal significance regarding liability?

Yes. The legal boundaries of your particular unit are set forth in the Master Deed that established the condominium. You are liable for any damage or injury that takes place within the boundaries o... Read More »

Is there a law regarding condo fees I live in a four-unit condo One of the members has not paid his condo fee for 7 months?

Yes, and the law is a local state law, plus the governing documents under which the association operates the property. Read your governing documents and follow the guidelines there to collect the p... Read More »

What is the liability of a condo owner with a cockroach infestation that spills over into the unit of another owner?

In this situation, it's a good idea to work with the board to determine the extent of the infestation, since these animals are likely to spread throughout the building. In most locales, it's diffic... Read More »