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

Uncertainty in the price of real estate due to market, economic, political or other conditions. ...

Money payments to be delayed for a future date or extended over a period of time. ...

Expected selling price of property less costs to sell. It is the net amount received upon the sale of property. gross receivables less allowance for doubtful accounts, representing the ...

Recurring obligation or assurance given. ...

Methods of owning real estate. Ownership form has important consequences for income tax, estate tax, corporate income tax, and survivorship. Real estate may be owned by one or more persons. ...

A tender has several meanings in everyday discourse. Most generally, tender means a formal offer designed for acceptance with the anticipation of soliciting a response in return. Bidding ...

Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...

Distance from the location of natural ground and water to the actual ground level. ...

Legal obligation to pay taxes associated with owning property or earning income. For example, a real estate owner must pay property taxes. ...

Popular Real Estate Questions