Laura Retana…, Home Buyer in Riverside, CA

When a condo is purchased, who owns the land?

Asked by Laura Retana Shelp, Riverside, CA Wed Feb 20, 2013

Help the community by answering this question:

Answers

2
John Juarez’s answer
Great question, Laura.

The answer is “it depends”.

A condominium is a dwelling type where you own your respective unit (usually from the drywall/plaster inward), and you also own a share of ownership in the common elements of the entire development.

Examples of common elements you might find: Pools, picnic areas, tennis courts, lobby, common walls and utility elements, concierge service, security office, parking garage, tennis courts, etc.

A townhouse – which is an architectural style – can be attached or adjoining other homes and is sometimes also a Fee Simple home. In a Fee Simple townhouse you own the entire structure, the land, the sky above it etc, but you will have joint ownership and maintenance obligations of a common party wall and possibly other elements like a common roof depending on the structure. You will usually have a pro-rata shore of ownership in the common area and elements of the community.

To add to the confusion, a townhouse can also be a condominium.
1 vote Thank Flag Link Wed Feb 20, 2013
Laura:

The short answer is all the owners of the condominiums own it in common and govern their ownership through their homeowner's association. In essence, you can think of the Homeowners Association as the owner of the land.

Mitchell Pearce
408-639-0211
mitchell@handsonrealtor.cm
0 votes Thank Flag Link Thu Feb 21, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer