Legal Dictionary

Search results for: “condominium”

  • Common Area Assessments

    Concept of Common Area Assessments in the context of Real Property A short definition of Common Area Assessments: The levies (assessments) charged to owners of condominiums or planned unit developments for the cost of common area maintenance and home owner association costs.

  • Single

    Legal Definition and Related Resources of Single Meaning of Single Affecting only one person ; alone; one only; an unmarried person. Related Entries of Single in the Encyclopedia of Law Project Browse or […]

  • Home Owners’ Association

    Concept of Home Owners’ Association in the context of Real Property Alternatives definitions of Home Owners’ Association: (1) An association of people who own homes in a given area, formed for the purpose of improving or maintaining the quality of the area. (2) An association formed by […]

  • Townhouse

    Concept of Townhouse in the context of Real Property A short definition of Townhouse: Originally a house in a city as opposed to a country estate. More recently the term is applied to certain types of row houses, whether planned unit developments or condominiums.

  • Principal Residence

    United States Tax Concept of Principal Residence Your primary home. Your principal residence may be a single or multi family house, condominium, mobile home, or houseboat, as long as it is the place where you live most of the time.

  • Maintenance Fee

    Concept of Maintenance Fee in the context of Real Property A short definition of Maintenance Fee: As applied to condominiums and planned developments, the amount charged each unit owner to maintain the common area. Usually a monthly fee paid as part of the budget.

  • Common Interest Development

    Common Interest Development…

  • Common Interest Development

    Common Interest Development…

  • Master Association

    Concept of Master Association in the context of Real Property A short definition of Master Association: In a multi phase condominium or planned unit development project there may be homeowners’ associations that are concerned with specific areas of the project. The Master Association […]

  • Fee Simple

    The greatest estate that any person can have in land under the common law. The holder of an estate in fee simple has absolute power of disposition and, if he dies intestate, the estate descends to his heirs. While in modern times an estate in fee simple is created in grants by the wo^ in…

  • Realty

    Real property , real estate . Includes buildings and permanent fixtures . See Real property .

  • Right

    Legal Definition and Related Resources of Right Meaning of Right In its legal sense, the term denotes the liberty or privilege conferred or protected by law of doing or abstaining from doing an act or the power or privilege enforced by law of […]

  • Residential Broker

    Concept of Residential Broker in the context of Real Property A short definition of Residential Broker: A licensed real estate broker specializing in the sale of residential property, such as single family homes, PUDs and condominiums.

  • Residential Broker

    Concept of Residential Broker in the context of Real Property A short definition of Residential Broker: A licensed real estate broker specializing in the sale of residential property, such as single family homes, PUDs and condominiums.

  • Air Lot

    Concept of Air Lot in the context of Real Property A short definition of Air Lot: Any bounded air space which has been legally subdivided into a lot, such as a condominium.