What is a Plan of Condominium
A condominium plan is similar to a plan of subdivision in that it is a way of dividing property. Plans of condominium must be approved by City Council. Condominiums are a form of property ownership in which title to a unit, such as an individual apartment in a high-rise building, is held by an individual together with a share of the rest of the property, which is common to all of the owners. Condominiums can involve a new development, or an existing rental project that is converted to condominium ownership. They can apply to any type of residential building as well as commercial and industrial buildings. Vacant land is not eligible.
This page was reviewed or revised on Wednesday, May 29, 2013 2:09 PM