Legal Question in Real Estate Law in Illinois
Do I own a townhouse, complete with the adjoining yard or do i simply own the interior of my unit? It is 1 of 26 attached units, with a single, undivided flat rood.
The homeowner's Declaration and By-Laws read as follows:
. . .terms used in the Declaration are defined as follows:
Owner: The holder or holders of legal title of record to a parcel; as hereinafter defined, within the confines of said tract of land; excluisive of the Association Real Estate.
Parcel: The self-contained dwelling units, with party wall or walls, constructed or to be constructed, together with the land appurtenant thereto, owned by one person or, if owned by two (2) or more persons, then so owned by them as joint tenants or tenants in common.
Association By-laws state under Purposes:
(b) To safeguard, protect and enforce the obligations, reservations easements conditions, rights, powers and agreements contained in instruments of record and which are binding upon and enforceable against all real property owned by members of The Association, which, when taken as a unified tract, has as its outermost boundary and perimeter real property owned by the Association.
(c) To hold legal title to and own certain residential property on a cooperative basis and to maintain, manage and preserve such property.
I can scan and forward to complete document if necessary.
1 Answer from Attorneys
Look at your deed and tax bill assessment rather than the Dec and by laws
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