PUD vs. Condo, what’s the difference? » Mortgage Masters Group

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Site Vs. Detached Condos. Now part of the reason that the defining the difference between a detached condo and a site condo is because they are underwritten differently. Detached condos that do not meet all the above noted items to be defined as a site condo are underwritten as a condo through limited review.

What is the difference between betterments and improvements and additions and alterations in a condo policy? When buying insurance, it is key that you get an explanation, preferably in writing, from a broker when/if the policy uses any of these terms, to satisfy yourself.

Multi-dwelling unit condominium: A condominium project that permits an individual to hold title to more than one dwelling unit with own ship of all units evidenced by as single deed of trust or mortgage. New condo projects with units of less than 400 square feet. New converted, non-gut rehabilitation condo projects. Non-conforming zoning project.

Condo Smarts: Owners entitled to see strata’s information about them (BC) Vote on Stonebridge golf course takeover could start next week (ON) Insure condos inside and out to protect investment (AB) Condo Smarts: Walk the buildings to fix strata lot mix-up (BC) Vancouver condo owner takes offence to Airbnb rental’s risqué business (BC)

What is the difference between a planned development townhouse community ownership and a Condominium ownership? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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From my high-level understanding of Condos, the resident has fee simple ownership of his/her unit, and has undivided interest in the common areas. Whereas in a PUD, the difference is that the resident has a defined percentage interest in the common areas (does this mean an owner cashes out on the % of common area when selling his/her unit?).

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