Property Subtype - Condominium
Condominiums (or condos) are a type of residential common interest development where each member owns the title to their unit. Often referenced is ownership of space "within the walls" of the unit only.
Each condo comes with a membership in the governing association, and the governing association elects a board of directors that manage the condo complex. Owners of condos benefit from the common areas and amenities that come from the complex, but each owner must pay routine fees to the governing association. Further, each condo title often comes with restrictive covenants controlling how owners use and maintain their unit.
This can be referenced in MIBOR BLC Public Records (CRS Data) by clicking on Public Records, searching the County/Address, and reviewing the Property Summary section.
This report can also be accessed from within the BLC Listing Service on a property listing record using the Additional Information "Reports" options.
Condominiums also include "Condo Type" information.
Vertical Condos are typically attached or paired dwellings that include a ground floor and sometimes second level. These can be referred to as paired-patio or row house. Vertical refers to the ownership of the space from the ground to the airspace (up).
Horizontal Condos are sometimes labeled Horizontal Property Regime (HPR) and are typically an apartment-style unit in a mid or high-rise building. Horizontal refers to the ownership of the space from corner to corner (across).
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