Silicon Valley Real Estate

Is it a townhome or a condominium?
March 18th, 2015 6:56 PM

What is the real difference between a townhome and a condominium?

A common misnomer is that a condo is a housing structure that is a part of a bigger unit or building (similar to an apartment), while a townhouse is a style of housing (usually multiple stories), where houses share walls.

Style does not determine whether the home is a condo or a townhome.  The determination is the legal type of ownership.   

No land is individually owned in a condo. Instead, it is the space inside the home that is owned. In contrast, those who own a townhouse actually own the land their home is built on.




How do you know? 

In California, it is simple; look at the Title Report.  If the home is a condo, you will find a statement similar to the following within the first few pages of the report:

Condominium as defined in section 783 of the California Civil Code.

Important: Know what you are buying.  Rely on the title report, not the description in the listing on the MLS.




Posted by Craig Jelinek on March 18th, 2015 6:56 PMPost a Comment

Subscribe to this blog