As the owner of a condo, you might be wondering exactly what rights you have. In fact, according to most legal authorities, you have quite a few. Here are some examples of answers to the question do condo owners have rights.
Absolute Ownership
Unlike an apartment, where the dwelling is owned by a landlord, the condo owner enjoys absolute ownership of the condo. It is the same ownership set up as a traditional home.
Exclusive Easement
The owner of the condo possesses the right to exclusively use his land as he sees fit. This is called an exclusive easement. They can plant a garden, put up statuary, or do anything that they see fit as long as they remain in compliance with local ordinances. This can be determined with the help of Schaumburg condo lawyers.
Repairs
If you live in an apartment or rented home, you are generally not allowed to make repairs or paint the interior or other activities according to the lease. This is not so when you own a condo because you are just that, an owner and you now know the answer to the question of do condo owners have rights.
Selling Or Leasing
Since the condo owner has absolute ownership rights, they are able to legally sell, rent, or lease their condo as they see fit. As long as no money is still owed to the bank on a mortgage loan, they can transfer possession at will. This is easily done with the aid of Schaumburg condo lawyers.
If you are interested in learning more about the ins and outs of condo ownership, please contact Business Name.
