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Housing Types
What is a Condominium ?
The term condominium has become a widely misused term in real estate. Real Estate Professionals and members of the public do not have a complete understanding as to exactly what a condominium is or isn't. A Condominium is not necessarily a dwelling unit with attached walls with other units which may be above and below or attached on the units sides.
A Condominium is a unit of real property. Condominium units can have several different housing styles such as an apartment, a separate house, a townhome, a hotel, an office building, row housing, patio home, a building, a triplex. A condominium can be attached or detached to other units. A condominium complex or development may have many units, such as high rise building or a large tract of land with multiple detached units with back and front yards.Redondo Beach,Torrance and Manhattan Beach have condominium developments consisting of as little as two units primarily of the Townhome style. The confusion comes in considering condominiums or condo as a style or type of real property commonly apartment style.
The owner of the condominium unit has a tenant in common ownership with the other tenants of other units A condominium owner has title to a unit of real property which is ownership of the airspace of one units of the housing styles mentioned above occupies.
The owner of the condominium also owns a common tenancy with owners of other units in the common area, of driveways, parking, elevators, outside hallways, recreation and landscaped areas and swimming pools etc which are managed by a homeowners' or tenant's association.
The condominium association derives its power from CC&R Convenient codes and Restrictions of the complex and/or bylaws. These documents are recorded by the state at prior to occupation of the complex.
The term condominium has become a widely misused term in real estate. Real Estate Professionals and members of the public do not have a complete understanding as to exactly what a condominium is or isn't. A Condominium is not necessarily a dwelling unit with attached walls with other units which may be above and below or attached on the units sides.
A Condominium is a unit of real property. Condominium units can have several different housing styles such as an apartment, a separate house, a townhome, a hotel, an office building, row housing, patio home, a building, a triplex. A condominium can be attached or detached to other units. A condominium complex or development may have many units, such as high rise building or a large tract of land with multiple detached units with back and front yards.Redondo Beach,Torrance and Manhattan Beach have condominium developments consisting of as little as two units primarily of the Townhome style. The confusion comes in considering condominiums or condo as a style or type of real property commonly apartment style.
The owner of the condominium unit has a tenant in common ownership with the other tenants of other units A condominium owner has title to a unit of real property which is ownership of the airspace of one units of the housing styles mentioned above occupies.
The owner of the condominium also owns a common tenancy with owners of other units in the common area, of driveways, parking, elevators, outside hallways, recreation and landscaped areas and swimming pools etc which are managed by a homeowners' or tenant's association.
The condominium association derives its power from CC&R Convenient codes and Restrictions of the complex and/or bylaws. These documents are recorded by the state at prior to occupation of the complex.
