Common Elements
Those parts of a condominium that are owned by all the unit owners.
Popular Real Estate Terms
A lease contract extending ten years or more. ...
Government compensation to farmers not to grow products to preserve the land and maintain stable agricultural products. ...
Formal or legal description of property and its dimensions included in deeds, leases, listing agreements, rental agreements, and sales contracts. ...
Tenant breaks the lease because the landlord does not keep the premises habitable. ...
Usually a fairly large site zoned and planned for the purpose of industrial development and located outside the main residential area of a city. Industrial parks normally are provided with ...
Outside layer or covering for a structure. It may be a coating of material for protection against inclement weather. ...
Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...
The legal description of property is a legal instrument to determine as best as one can, the physical boundaries and characteristics of a plot of land and the housing built on top of it. ...
You’ve put your home on the market and are receiving offers. The next logical step is to sell your house to the buyer who offers you the highest amount of money and start the closing ...
Comments for Common Elements
Do common elements include utilities such as water and electricity?
Sep 18, 2020 18:12:58Hello, 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 09:06:12Have a question or comment?
We're here to help.