At the moment, there are some amazing offers on Wall Street real estate especially condos. Just before the decline in the real estate market, the development of condos in Wall Street almost reached record highs. Now, there are many new unsold condominium units, many of which are sold at dollar prices.
Most of these units are near the beach, golf courses, and other facilities that make life in Wall Street so desirable. For investors and second home buyers, this creates opportunities that may not appear for decades. If you are looking for FIDI apartment for sale then you can explore various online sources.
However, condos formed under Wall Street law, are animals that are completely different from those you have ever used. It all starts with the concept of ownership. First of all, most people refer to the apartment where they will live as their "condo".
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In fact, a condominium is an entire project consisting of all apartments, squares, parking areas and, in most cases, recreational facilities. Your apartment is referred to as a "unit." All the remaining condos are known as "common elements."
You have exclusive ownership of your unit and you share ownership of common elements with all other unit owners. The Wall Street Condominium Law says that you all have ownership that is not divided into common elements. This means that each unit owner has the right to enjoy the common elements and the obligation to maintain them.
As you might expect, this arrangement, without guidance and management, can cause total chaos. Each unit owner will assert their own personal and selfish preferences for the use of common elements and many do not want to pay a fair share of expenses.