Cooperative

A housing cooperative, commonly referred to as a co-op, is a corporation formed to share ownership in a single property among multiple residents. In a

Contract for Deed

A contract for deed is a legal agreement for the sale of property in which a buyer takes possession and makes payments directly to the

Contiguous Lots

Contiguous lots are pieces of real estate that are adjoined or adjacent to each other. Contiguous lots share a common boundary, so parcels of land

Contract

Any real estate transaction requires a contract, which can be either written or verbal but must spell out every aspect of the transaction in detail.

Construction Budget

The construction budget is the amount of money allotted for a specific building or remodeling project. Construction budgets are used to anticipate all costs and

Consideration

In contract law, consideration refers to an item of value that the parties negotiate as a part of a contract. Consideration is a necessary component

Condominium

A condominium is a building that contains multiple units available for owner occupancy. Each unit in the building has an owner, but all of the

Condominium Conversion

Condominium conversion is the process of converting rental apartments, which are leased by the occupants, into condominium units, which are owned by the occupants. Condominium

Condemnation

Condemnation occurs when a public authority, such as the local government, seizes a piece of private property for public use. The public authority must pay

Community Development Tax

The Community Development Corporation (CDC) Tax Credit program rewards local businesses that contribute to economic development efforts in distressed parts of the City. The tax

Homeowner Education