Condominium Project. Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.
Condominium Project. ’ means real es- tate (A) which has five or more residential condominium units, in each residential struc- ture, and the remaining portions of the real estate are designated for common ownership solely by the owners of those units, each owner having an undivided interest in the common elements, and (B) where such units are or have been offered for sale or sold, di- rectly or indirectly, through the use of any means or instruments of transportation or communication of interstate commerce, or the mails;
Examples of Condominium Project in a sentence
TIF capture in 2008 and 2009 is based on the estimated new captured value generated by the Lakeside Condominium project at 301 Lake Street.
More Definitions of Condominium Project
Condominium Project means a real estate condominium project; a plan or project whereby two or more units, whether contained in existing or proposed apartments, commercial or industrial buildings or structures, or otherwise, are separately offered or proposed to be offered for sale. Condominium project also means the property when the context so requires.
Condominium Project means a real property development in which ownership of a separate interest is coupled with an undivided interest in all or part of the common area. (b) The undivided interest in the common area and the separate interest may be a specified three-dimensional space filled with air, earth, or water, or any combination thereof, and need not be physically attached to land except by easements for access and, if necessary, support. (c) The boundaries of the common area shall be described on a recorded final map, parcel map, or condominium plan. (d) The boundaries of the separate interests shall be described on a recorded final map, parcel map, or condominium plan. A description of a separate interest may refer to (1) boundaries described in the recorded final map, parcel map, or condominium plan, (2) physical boundaries, either in existence, or to be constructed, such as walls, floors, and ceilings of a structure or any portion thereof, (3) an entire structure containing one or more separate interests, or (4) any combination thereof. (e) An individual condominium within a condominium project may include, in addition, a separate interest in other portions of the real property.
Condominium Project means a real estate condominium project; a plan or project whereby four or more apartments, rooms, office spaces, or other units existing or proposed whether the unit involves a single structure, attached to or detached from other units, or is in one or more multiple unit structures, on contiguous parcels of real estate are offered or proposed to be offered for sale;