Condominium definition

Condominium means a common interest community in which portions of the real estate are designated for separate ownership and the remainder of the real estate is designated for common ownership solely by the owners of those portions. A common interest community is not a condominium unless the undivided interests in the common elements are vested in the unit owners.

Condominium means the form of real property ownership

Condominium means the ownership of a single unit in a multiunit project

Examples of Condominium in a sentence

• Until the delivery of the Deed, Seller (or the Xxxxxx Edge Farm Condominium Association, if appropriate) shall maintain fire and extended coverage insurance on the Unit as now in force.

• Unit # located in XXXXXX EDGE FARM CONDOMINIUMS (the "Condominium") located off Brook Street, in the City of Westbrook, Maine, together with an undivided interest in the common elements as specified in the Declaration of XXXXXX EDGE FARM CONDOMINIUMS recorded, or to be recorded, in the Cumberland County Registry of Deeds.

• Xxxxx agrees not to enter upon the Condominium during the term of this Agreement without an appointment 24 hours in advance and being accompanied by a representative of Seller.

• Such information as may have been, or may hereafter be, furnished to Buyer concerning mortgage financing, operating expenses of the Condominium and the real estate taxes for individual Units is thought to be reliable but Seller does not warrant the accuracy of projections or expectations.

• Buyer will also deposit with Seller at the time of closing for transmittal to the Xxxxxx Edge Farm Condominium Association the first full month's assessment for estimated Common Expenses and an initial working capital contribution in an amount equal to twice (2x) the monthly installment of the estimated Common Expenses attributable to the Unit, which initial working capital contribution is in addition to and not in lieu of regular monthly installments of such expenses and charges.

More Definitions of Condominium

Condominium means the ownership of a single unit in a multiunit project together with an undivided interest in common in the common areas and facilities of the property.

Condominium means real property, and any incidents thereto or interests therein, lawfully submitted to this chapter by the recordation of condominium instruments pursuant to the provisions of this chapter. No project shall be deemed a condominium within the meaning of this chapter unless the undivided interests in the common elements are vested in the unit owners.

Condominium means property submitted to the provisions of ORS chapter 100.

Condominium means a common interest community in which

Condominium means the form of real property ownership provided for under the "Condominium Act," P.L.1969, c.257 (C.46:8B-1 et seq.).

Condominium means, with respect to each Condominium Property, the condominium regime created by the Condominium Documents.

Condominium means real estate, as defined and created under Chapter 47C [of the General Statutes].