Are there any legal precedents related to condominium living in my area? What are the implications of foreclosures within the condominium community?

What is the definition of a condominium? A condominium (also known as a condo) is a privately-owned home within a multi-unit development. Each owner has a ... Dec 8, 2023 ... The questions concern basic information about the development, insurance coverage, rules around reselling, and more. Feb 15, 2021 ... A hotel condominium unit may be a good purchase if the owner's goal is to have a vacation home to use and enjoy the hotel amenities. Aug 1, 2016 ... There are three main documents that exist to make the condominium “legal” that exist in the Public Record, aka at the Registry of Deeds for anyone to read. The biggest difference between a condo and an apartment can be seen in who owns and manages the property. A condo is managed and owned by a landlord, while an ... The Bottom Line. A condominium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but ... What does an HO6 policy cover? If you own a condo or co-op unit, the common areas like the hallways, land and other shared areas typically are covered by a ... Jan 16, 2017 ... What does condo insurance cover? One feature of condominium insurance, as with homeowners insurance, is coverage for the structure - the inside ... In general, the president has more powers than other officers, but the president still doesn't run the whole show at a condo or HOA. "There are delineated ... Dec 9, 2024 ... A condo may be deemed non-warrantable if the homeowners association (HOA) does not allocate at least 10 percent of its dues to a reserve fund ...