Freehold Condominium |
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Also see: About Condo memo on Types of Condominium; Common Elements Condominium; Phased Condominium; Standard Condominium; Vacant Land Condominium
Short Answer
A condominium in which title to the property is held in fee simple first by the declarant and thereafter by the owners of the units or, in the case of a Common Elements Condominium, the parcels of tied land. This category includes Standard Condominiums, Phased Condominiums, Vacant Land Condominiums and Common Elements Condominiums.
Definition
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What you need to know…
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…as a Unit Owner
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…as a Board Member or Manager
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…as a Declarant
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