A common-interest development is a type of real estate development in which a group of individuals own units within a larger property, such as a condominium or townhouse complex. These owners are responsible for paying common-area assessments to cover the maintenance and upkeep of the common areas of the property.
What does common-interest development mean?
Related Terms
Qualifying Ratios
Fair Credit Billing Act
Lien Search
Alternative Mortgage
Contract For Deed
Community Property
Inspection
Assumable Mortgage
Per-Diem Interest
Half-Bath
First Mortgage
Free-Market Lots
Buy-Down Mortgage
Tax Shelter
Commission On A Listing Agreement
Home Equity Loan
Community Reinvestment Act
Encroachment
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