| The first place to look is the real estate legal description. I realize that a lot of lenders do not put it in the loan package. The legal description normally references the Declaration of Condominium and will describe the unit along with the owner's fractional interest in any common elements. If the description does not include a Declaration of Condominium, you are not dealing with a condominium. Another thing to keep in mind is that a Condominium is all of the units and common areas and is not one single property. Most owners have a property interest in a single unit within the condominium. |
