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Saturday, June 10, 2023

Sound Advice 04-28-23

April 28, 2023 12:15 am • Last Updated: April 28, 2023 12:49 am

A Welcome Home reader emailed to ask about the differences between a condominium and a co-op. Coldwell Banker Realtor Jacqueline Hoyt explains the distinctions:

“The Connecticut Real Estate Practice and Law Handbook, by Katherine A. Pancak, distinguishes condos from co-ops. A condo, she writes, is a community where units are sold separately and common areas are owned by all of the unit owners together. In the case of a co-op, the property (including the units themselves) are owned by an association. ‘The unit owners are members of the association and have the right to exclusive possession of a particular unit.’ If you’re considering a co-op or condo, consult with your Realtor about community roles and responsibilities.”

Have a question for a local Realtor? Ask it here: welcomehome@theday.com

Jacqueline Hoyt

Coldwell Banker Realty, East Lyme/Mystic

Office: (860) 739-6277

Mobile: (860) 235-2665

jacqueline.hoyt@cbrealty.com

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