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Is condominium parking space ownership without unit ownership possible?
Wiki User
∙ 13y ago
No. Generally, when an exclusive parking space is appurtenant to a unit there is a restriction against the transfer of that exclusive parking space except when conveyed with the unit. Also, the right to use non-exclusive parking spaces cannot be separated from the unit deed.
Wiki User
∙ 7y ago
Wiki User
∙ 13y agoNo.
Read your governing documents to discover parking space ownership options.
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What is the difference between a villa and a condominium in Missouri?
Regardless of your location, a villa is a style of residence: condominium is a form of real estate ownership without a definition of the residence style.
Is condominium unit considered real property?
Yes. A condominium is real property and is an estate owned in fee: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium.
Can a person who owns three condos that have parking spaces assigned by the declaration sell one and in the title state that it only has one parking space and thereby maintain control of the other?
It sounds like you own three condominium units and three parking spaces, each of which is listed on the title of the condominium to which it is attached (by space number, usually). You can present your proposed alteration of parking space assignments to the board and ask the board for its guidance in the matter. Your governing documents may restrict this practice, may allow this practice, or may not address this practice. The board's responsibility is to preserve the value of the real estate belonging to the association. If removing a parking space from its attachment to a condominium unit devalues the unit, the board may not allow you to disconnect it from its parking space. Although the unit is individually owned, without a parking space, the value of the unit may be reduced, thus lowering the overall market base for units in the building.
Are property rights associated with condominiums considered Fee Simple rights?
Your condominium-savvy attorney practicing in your state can answer this question for your particular property.(Your question may be based on some action you wish to take, in which case, you could ask another question about how to go about taking the action.)The answer may vary from state to state.For example, in Washington State, the developer owned the property, and submitted it to the provisions of the Washington State Condominium Act, and created the condominium community. Subsequently, each owner purchased an allocated interest in the property.You can read more about the fee simple definitions of real estate ownership, below.AnswerThe requirements for creating an estate in fee simple are simple: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium. By the acceptance of their unit deed each unit owner agrees to have their unit subject to the provisions in the Master Deed. Although a condominium is governed by statutory law, can promulgate rules and regulations and assess monthly maintenance fees, the ownership of a condominium unit is considered a fee simple estate.
Ownership on a car left to you without the ownership papers?
what type ownership
If you marry a person and they own a condo does that make you an owner of that condo even if your name is not on the deed?
A local attorney can best answer this question, since there is no one answer to this question.The answer depends on the state where you live and what action you plan to take based on your presumption of ownership.Some states are community property states, so without a prenuptial agreement, it is possible that in a divorce, the condominium unit would be considered community property and you would own half of it.However, in order to evidence your ownership in this case, either your name would be added to the deed, or the condominium unit would be sold and you would receive half the sale amount minus expenses of sale.If you plan to borrow money and use your ownership share in this property as collateral, your name must be on the deed.Insofar as condominium-ownership related, association business is concerned, such as voting, paying assessments and so forth, read your governing documents to learn about your rights and responsibilities. Without your name on the title to the real estate, your rights might be unclear, but your responsibilities as a resident will be clear.
Can you sell a condo unit in NYS without condo declaration being recorded?
No, in New York State, you cannot sell a condo unit without the condo declaration being recorded. The condo declaration is a legal document that establishes the rights and obligations of condo owners and is necessary for the sale of the unit to occur. Recording the declaration protects the rights and interests of all parties involved in the condo transaction.
What is the penalty for parking in a disabled parking stall without a proper permit in Washington?
500
What happens when a person dies without a will and the deed is a survivorship deed?
Sole ownership of the property passes automatically to the survivor without requiring a probate proceeding.Sole ownership of the property passes automatically to the survivor without requiring a probate proceeding.Sole ownership of the property passes automatically to the survivor without requiring a probate proceeding.Sole ownership of the property passes automatically to the survivor without requiring a probate proceeding.
Is a will the same as a sale deed?
No a will is not a deed. However, a probated will can transfer legal ownership of real property without the need of a deed.No a will is not a deed. However, a probated will can transfer legal ownership of real property without the need of a deed.No a will is not a deed. However, a probated will can transfer legal ownership of real property without the need of a deed.No a will is not a deed. However, a probated will can transfer legal ownership of real property without the need of a deed.
How can one determine if the equity on a car is worth while?
The cars equity is worthwhile if it is possible to sell the car without losing too much value from the time of the ownership of the car.
Is it illegal to drive a car without a license on a private parking lot?
No, if you have the owner of the parking lots permission.
