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What is the Difference Between a Condominium and a Townhouse?

Are you wondering what the difference in an Albuquerque Condominium (Condo) and a Townhouse (Townhome) is?  Eric has given a great explanation in this post.
If you are consider listing or purchasing an Albuquerque Condo or Townhome I hope you give me, REALTOR® John McCormack a call at 505.980.4576 or John@AlbuquerqueHomes.com .  I'd like the opportunity to assist you in meeting your NM real estate needs.
What is the Difference Between a Condominium and a Townhouse?
I can answer this in one sentence: a condominium is declared a condominium.
Yes, it is really that simple but I have read several articles on this topic and all missed this very important aspect.  They have talked about building plans, owning the adjacent plot of land and homeowner’s associations but the bottom line is that in order for something to be called a condominium, it must be declared one.
Common Interest Communities
Common interest ownership means that the units have unit boundaries which the unit owners own exclusively and everything else (open areas, ponds, pool, tennis courts, roads, parking etc.) is collectively owned by all of the unit owners.
The areas outside of the unit boundaries are typically called common elements and are maintained collectively by ... more

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