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How Does Condo Ownership Work

The condo board sued the developer, Shaya Boymelgreen, for $10 million. A decade later, Boymelgreen agreed to pay an $875,000 settlement and hand over ownership of the building. and authorized the.

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With the surge in condominium ownership, many people have become familiar with how condo associations function. Co-ops share some of the same qualities: They contain multiple units of housing, are governed by bylaws and operated by elected officers and directors, and require occupants to share in.

Chelle Konyk, Esq., (www.LawKL.com) is a Florida licensed attorney with the law firm of Konyk & Lemme PLLC. Konyk & Lemme PLLC assists Homeowner, Condominium and Cooperative Associations throughout Martin, Palm Beach, Broward and Miami-Dade Counties in general legal matters including bulk rate cable TV and telecommunications.

A Condo is Just Like Home Ownership This is a tough one. When you buy a unit in a condominium, you do become a homeowner and gain access to most of the rights that come along with buying a.

A condo may also be part of a smaller structure with multiple living spaces, such as a duplex or triplex. Condos can often resemble town homes and offer similar aspects of town house living, but with.

What does Fractional Ownership mean?Is that like time share? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Fractional Ownership – Answers To Frequently Asked Questions. By Andy Sirkin. What is Fractional Ownership? The phrase "fractional ownership" is typically used to describe shared ownership of a vacation or resort property by people in an arrangement which allocates usage rights based on time.

This article will review the basic concept of owning a timeshare, how your ownership might be structured, and the benefits and drawbacks of owning one. What Is a Timeshare? A timeshare is a way for a number of people to share ownership of a property, usually a vacation property such as a condominium unit within a resort area.

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