What is the Difference Between Condominium Ownership and Floor Easement?

What is Condominium Ownership?

Condominium ownership is the right of ownership over the independent sections of a completed structure. With a prepared deed, condominium ownership allows the owner to prove their ownership of independent sections such as apartments, offices, shops, or stores within a completed structure.

What is the Difference Between Condominium Ownership and Floor Easement?

Floor easement and condominium ownership are distinct terms. Floor easement is an easement indicating joint ownership. While floor easement indicates a joint right over a structure, condominium ownership is a document that shows your independent ownership right. A person who buys an apartment with a floor easement but without condominium ownership will have to pay some fees at the land registry office when obtaining a condominium ownership deed. A point to consider when purchasing any property is that you must have a floor easement or condominium ownership deed to prove your ownership right. Otherwise, it is impossible to claim your right over the property.