During the last variety of years we’ve seen the U.S. housing market fall in love with the condo like no other form of lodging. If there is a homeowner’s association, you’ll usually should pay a month-to-month maintenance payment that is separate from your mortgage fee. Each owner-tenant instantly owns his personal condo; the rest of the constructing and the ground on which it stands is owned collectively by the apartment house owners who execute their joint possession by way of an owner’s association.
As time passes, builders may find themselves unable to sell off the remaining items. Individual condominium unit owners share rights to frequent areas contained in the premises like elevators, swimming pools, hallways, and clubhouses...
