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Real Estate Tips
Titles >Holding Title to A Condo

With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.

A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.

A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.

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Real Estate Trivia
Q 
What holds the title as the tallest reinforced concrete building in the U.S.?

A 
311 South Wacker Drive in Chicago was completed in 1990 and is 65 stories high.
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Erik Hoferer & Associates, REALTOR®, real estate agent and broker for Wilmington, Newark, Middletown, Kennett Square and Chadds Ford, Delaware home listings, property and land for sale - NUMBER1EXPERT

Erik Hoferer & Associates
Keller Williams Realty

1521 Concord Pike Suite 102
Wilmington, DE 19803
302-299-1111
Fax: 302-299-1197
ErikHoferer@NUMBER1EXPERT.com

Erik Hoferer is a licensed Realtor in Delaware and Pennsylvania and his experience will save you time and money. Selling Real Estate is all Erik does. He loves it, and his passion positively impacts each and every one of his clients. Put Erik and his team at Erik Hoferer & Associates to work for you and see why Erik has been the #1 selling agent at Keller Williams in Delaware since 2008! Erik specializes in New Castle County, Delaware and Southern Chester County, Pennsylvania and he would love to help you with all of your Real Estate needs.

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