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What is a site condo in California?

Site Condominium means a single family detached dwelling (which does not have a shared garage or any other attached building, including such improvements as archways, or breezeways), which is encumbered by a declaration of condominium covenants or condominium form of ownership, and which consists of the entire

What is a Michigan site condo?

Site condos in which the unit owner owns the detached condo unit and the land upon which the unit is built are a type of detached condo. The waiver of project review applies for new and established projects.

What is a site condo on a FHA loan?

Site Condominiums are single family detached dwellings encumbered by a declaration of condominium covenants or condominium form of ownership.

What is a condominium rider in Michigan?

If youre buying a condominium, one of the documents you will be required to sign in connection with your loan is a Condominium Rider. This rider is an attachment to the document recorded in the land records to secure your loan. In DC, Maryland and Virginia the recorded document is called the Deed of Trust.

What is the definition of a condominium?

A condominium, also known as a condo, is a unit in a complex or building of units that is privately owned. The air space inside a condo is owned by the condo owner, who also owns a share of the communal property, which includes the floor, walls, walkways, stairwells, and outside spaces.

hud condominium rider pdf

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What is a condominium rider in Florida?

To ensure buyers understand the nuances involved, some jurisdictions, including Florida, have a specific addendum to the standard purchase agreement known as the Condo Rider. This document is paramount in any condominium transaction as it protects the buyer and specifies various condominium-related aspects.

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