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A inium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but share common spaces, amenities, and other resources. They pay condo fees, which cover maintenance costs, amenities, and the upkeep of common spaces.
What is a inium deed?
inium Documents means the master deed, recorded pursuant to this act, and any other instrument referred to in the master deed or bylaws which affects the rights and obligations of a co-owner in the inium. inium Plan means a plan described in Section 4285.
Do you receive a deed in a inium?
The ownership of a inium apartment is similar to the ownership of a residential home since you are purchasing real property and receive a deed to the unit.
What is an advantage of inium ownership?
Condos offer residents the opportunity to embrace homeownership without the hassle of yard work, snow shoveling, or home repairs. Building hallways, entryways, and community spaces are also taken care of by a cleaning or maintenance staff, so you only have to worry about your living space.
How do I get the deed to my condo?
How to Find the Deed to Your House Check Online. Contact the County Recorders Office. Request the Deed by Mail. Pay any associated Fees. Wait to receive the deed by mail.
Related Searches
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People also ask
What is an example of a inium property?
One common type of inium is a residential high-rise that provides housing for several different families. However, the concept is not limited to high-rise buildings, nor is the concept limited to residential properties. Residential townhouses are sometimes developed as iniums.
What are the three types of deeds?
5 common types of deeds Grant deed. A grant deed is the most common type used in California real estate transactions. Quitclaim deed. A quitclaim deed transfers the sellers interest in a property to the buyer. Warranty deed. Interspousal transfer deed. Deed of trust.
Related links
24 CFR 234.265 - Contents of deed and supporting
In addition to the requirements of 203.367, incorporated by reference, the deed shall comply with the plan of apartment ownership.
RP-5217-PDF Real Property Transfer Report Instructions
The RP-5217-PDF Real Property Transfer Report (RPL Article 9, Section 333) is a one-part, downloadable, barcoded, pdf form used to document the information
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