Legal Question in Real Estate Law in Illinois
If you mean the percentage of interest in common areas .
How do i find out my percentage of common interst in common areas of my condominium? Is this divided equally based on the number of units on the building if all units are the same size in square footage and floor plans? Do my percentage of interest determine my percentage in terms of voting when a majority vote is required?
2 Answers from Attorneys
Re: If you mean the percentage of interest in common areas .
You should have received a condominium declaration when you purchased the unit. If you look through it, the percentage interest of each unit should be listed in an exhibit towards the back of the document.
Re: If you mean the percentage of interest in common areas .
I would need to see the original contract you signed in order to advise you further. Please contact my office for a free consultation.
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