Condominium/Real Estate Law Blog
There is a Difference Between a Condominium and a Townhouse
Posted by Jeff Barnes on December 07, 2011
A purchaser of a condominium unit owns his/her condominium unit together with a defined percentage interest in the common elements, which are everything beyond the condominium unit. Each condominium complex is controlled by a master deed, by-laws and rules and regulations. The master deed sets forth each unit owner’s percentage interest in the condominium complex, which also determines the percentage interest to be paid by the way of condominium fees for the insurance, maintenance and overall care of the entire condominium complex.
A purchaser of a townhouse owns his/her unit, the ground as well as the structure with the only thing being common among the other townhouse owners are the common wall separating the townhouse structures. Unless your townhouse complex is part of a homeowner association, the maintenance for each unit owner’s respective outside yards as set forth in the deed as well as the exterior of such structure are the financial responsibility of each owner. Some townhouses are also governed by certain by-laws that discuss such items as parking, landscaping, structural exterior designs and modifications, pets, interior and exterior storage, rentals and sales.
If you would like to discuss your specific situation as it relates to this topic, contact me.
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