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Condominiums
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statutes, however, allow such space to become real property.
Q: What happens to the part of the property that is not included in the “space”?
A: When a piece of real property becomes a condominium by using a state’s condominium statutes, the property is divided generally into “units” and “common elements.” In most con- dominiums a unit is simply a cubicle of space that may include various items, such as floors, ceilings, windows and doors, which a state statute or a drafter of condominium “governing docu- ments” may provide.
All other parts of a “typical” condomini- um property that are not defined as a part of a unit (including, in Ohio, the underlying land) are common elements. These common elements are not considered separate parcels of real property. Rather, an “undivided” portion or percentage of the common elements is allocated to (and owned by) each unit as “an appurtenance” —a part of the legal title—to that unit. So, if you buy a condo- minium unit, you also will own an “undivided” portion of the condominium’s common ele- ments. For instance, your portion of the condo- minium’s common elements might be one-tenth in a ten-unit condominium, even though your portion cannot be physically identified, and will always remain unidentified and unidentifiable!
Q: So, if I say I’m buying a condominium, I’m really only buying a share in a condominium. Is that right?
A: Yes. Although most people, including many of those in the real estate industry, talk and write about buying and selling “condominiums,” they really mean they are buying and selling UNITS in a condominium.
This “Law You Can Use” consumer legal infor- mation column was provided by the Ohio State Bar Association. It was originally prepared by Columbus attorney Dick Loveland, and updated by attorney Bill Loveland of Loveland Law, LLC, Upper Arlington, Ohio. Articles appearing in this column are intended to provide broad, general information about the law. Before apply- ing this information to a specific legal problem, readers are urged to seek advice from an attorney.
22 |LeisureLiving Autumn 2015
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