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Pied a Terre

Condominiums

A condominium is a building in which you purchase a fee simple interest in a percentage of the building. A grant deed is issued as security for ownership. You own from the interior of the walls in. Parking spaces, decks and storage rooms are often deeded or exclusive use easements are granted. You also own a proportionate percentage of the common area. The HOA association is comprised of all the condominium owners. Members of the association elect a Board of Directors. CC&Rís, Bylaws and often House Rules are the governing documents which may limit use, restrict rentals, have a pet policy or provide for other regulations.

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