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04-09-2018 07:42 AM
The legal form of ownership known as "condominium" has never changed. It DOES NOT REFER TO THE STYLE OF A COMMUNITY OR THE HOMES IN IT.
It is basically a limited right to what happens to the occupied property and an obligation to pay into a fund to maintain common areas used and commonly owned by others in the community.
This is not an exact explanation of "condominium" ownership versus "fee simple" ownership, but I hope it helps some people who still think condos have to be of a certain style.
I know of one cul-de-sac of colonial-style homes with lawns, driveways, garages that actually is a condominium development. So if anyone thinks a condo is an apartment or some structure with a common wall, ...............wrong.
04-09-2018 09:05 PM - edited 04-09-2018 09:10 PM
@sissel wrote:I now learned condos. The terms has changed so much. I grew up back east when we had row houses & twin houses guess they don't call that now either. In New York they had brown stones (which I always thought they were row houses coming from Phila) guess they don't call them that either. Thank you for explaining it to me.
Condos have always been condos. It's about ownership, not the type of dwelling. It seems as though it's changed because people have always misused the word.
Brownstones are still called brownstones, btw. There are some in NYC that are very beautiful and in high demand
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