Definition of "Common elements"

Those parts of a condominium that are owned by all the unit owners.

Comments for Common Elements

Patricia Kowski Patricia Kowski said:

Do common elements include utilities such as water and electricity?

Sep 18, 2020  18:12:58

 
Real Estate Agent

Hello, Patricia!

Yes, common elements in a condominium, for example, include heating and air conditioning systems, pipes, hot water systems, light fixtures on common ground, security systems, and electrical systems. Aside from these elements that are not so obvious, you have lobbies, locker areas, garages, technical rooms, walkways, the roof, and many other elements that are parts of the condo complex and belong to all owners.

Sep 28, 2020  09:06:12
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Some states make the legal assumption, based on title theory, that the mortgagee is a partial owner of the real estate securing the mortgage and remains as is until the debt is fully paid. ...

To default on a loan means to intentionally or unintentionally miss several consecutive monthly payments over the course of a few weeks or months. Most borrowers learn the definition of ...

(1) Occupancy rate at which rental income of a property pays for operating expenses and debt service, leaving no residual cash flow. (2) The level of sales of a real estate business where ...

One of series of parallel beams directly supporting a floor or a roof. Joists can be made out of wood, steel or steel reinforced concrete. Joists are in turn supported by other beams or ...

Physical record card where the date of the last assessment valuation and its results, as well as a property description are kept. ...

Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive income from the ...

Wall having an air space between the two sides. A hollow wall is often covered with wallboard that is nailed to the wall studs providing an air space between the two sides. ...

Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...

Individual who by his expertise, education, and experience prepares syndication reports. ...

Popular Real Estate Questions