Condominiums

Air rights come into play with many condominiums. Often, the condominium owner only owns the air rights, while the homeowner association owns all the walls, ceilings and floors. The condo owner only owns the air space within his or her unit. Nevertheless, that air space has proven very valuable, as condominium development has exploded throughout the country.

Within the unit's air space, the condominium owner enjoys the usual bundle of real property ownership rights, such as possession, control, enjoyment, exclusion and disposition. The homeowner's association can and does impose restrictions on these ownership rights, but the unit owners are normally given wide latitude.

For more information, see the "Condominiums" article.

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Real Estate Planning And Prosperity

Real Estate Planning And Prosperity

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