In the Seattle Times Real Estate Q&A section this weekend someone wonders:
Q: How important is it for a condo association to own the land under its building, and what are the consequences if the land is owned by another party? Also, must the seller divulge who owns the land?
I have no idea how common this is in Seattle or know of any condos where this is true. Do you?
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1 Eric // Dec 5, 2006 at 3:59 pm
I’ve heard that the converted elementary school on top of Queen Anne Hill is a property like this. Not the new High School condo conversion that is going on the market. The elementary school is on the western side of Queen Anne Ave. and has always been a condo conversion, whereas the High School was an apartment complex then condo.
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