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Titles >Holding Title to A Condo
With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.
A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.
A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.
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The Coveny Team RE/MAX Prestige 410 Robert Parker Coffin Road Long Grove, IL. 60047 Phone: 847-634-6300 Fax: 847-634-6266 website: www.covenyhomes.com Email: susan@covenyhomes.com
The Susan Coveny Team assists their clients by focusing on these seven priorites:
1. Providing Quality Service
2. Providing Professional Advice
3. Delivering a Successful Market Plan through Innovation
4. Addressing the Customer's Individual Needs
5. Team Work
6. Meaningful Communication
7. Continual Professionalism
Legal Disclaimer - No Liability: RE/MAX Prestige, Susan Coveny, Coveny Team, its agents or employees shall not be held liable to anyone for any errors, omissions or inaccuracies under any circumstances. The entire risk for utilizing the information contained on this website or linked to this website, rests solely with the users of this website. The information is subject to inspection and verification by all parties relying on it. No liability for its accuracy/inaccuracy, errors, or omissions is assumed by the sellers or their agents. These listings may be withdrawn or modified without notice at any time. Information Not Warranted or Guaranteed: The official Susan Coveny and Coveny Team website and all pages linked to it or from it, are PROVIDED ON AN "AS IS, AS AVAILABLE" BASIS. Coveny Homes - Susan Coveny MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THOSE OF MERCHANTA BILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO ANY INFORMATION OR USE OF INFORMATION CONTAINED IN THE WEBSITE, OR LINKED FROM IT OR TO IT.        

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