They say they don’t make no more real estate…they lied.  They make real estate out of thin air—it is called a condominium. Condo Declaration:  This is now real estate.  We have created real estate; we have defined what the real estate is in the covenant and restrictions.  The units are individually owned; however, the structure is owned by the association, along with any common elements.  Then everybody has interest in the structure, pool, cinder blocks, etc.  When you buy a condo, you are buying the space from the outer walls in, but you have access to the common elements. You can also have limited common elements, like garages or storage, which means owned by the association, but you have the exclusive right to use that limited common element. Limited common elements can be transferred based on what the condo docs say.  If the association assigns the garage to the condo unit, then the garage goes with the condo deed.  Coming from the developer, Garage One goes with Unit One.  However, if the condo docs allow the limited common elements to be transferred, then the owner of Unit One can sell Garage One to the owner of Unit Two, and the […] Read More