Condominium Right

Condominium Right - Condominium Right, also known as Horizontal Property Right, refers to the legal structure that allows individual ownership of a unit within a multi-unit building, along with a shared ownership interest in common areas like hallways, elevators, and amenities. This right enables the individual unit owner to sell, lease, or mortgage their unit independently, while being subject to the rules and governance of a homeowners' association or similar entity.

Class Information

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Identification

Label (rdfs)
Condominium Right
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Alternative Labels
Horizontal Property Right, Strata Title Right
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Definition and Examples

Definition
Condominium Right, also known as Horizontal Property Right, refers to the legal structure that allows individual ownership of a unit within a multi-unit building, along with a shared ownership interest in common areas like hallways, elevators, and amenities. This right enables the individual unit owner to sell, lease, or mortgage their unit independently, while being subject to the rules and governance of a homeowners' association or similar entity.
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Translations

en-gb
Commonhold

Class Relationships

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Additional Information

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Deprecated
False

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