Centers And Squares
Welcome to Centers and Squares
As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.
What’s A Fee Simple Townhouse?
A townhouse is a multi-level dwelling attached at one or both sides to one or more other units. In Cambridge, townhouses are either deeded as condominiums or have a fee simple deed. If you are thinking of buying a Cambridge townhouse you will want to understand the form of ownership – will you be getting a condo deed or will you own the townhouse by a fee simple deed.
Form of Ownership
Condominiums
The owner of a condo owns his or her individual unit and has a percentage share of the condominium building and grounds that are owned in common by fellow members of the condo association. The condominium documents – a master deed and declaration of trust – spell out the percentage interest, define the common areas, and gives the legal description of the individual units.
Owners of condos will share in the costs associated with maintaining the common elements. Costs are apportioned by owners’ percentage interests as defined in the condo docs.
Fee Simple Ownership
When you own a townhouse with a fee simple deed you own your townhouse building AND the land on which it sits.
Even though your townhouse may not be in condominium ownership there still may be association regulations and / or fees. Make sure you understand what if any regulations govern the development and whether there is a governing homeowners’ association.
Do you have questions about buying a townhouse in Cambridge? I would be happy to help and I’m just a phone call or email away!
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Hi,
I currently own a townhouse and I would like to know is there anyway we could change condominiums to Fee simple Ownership.
I understand we all have to pay monthly dues for the common area, however things like roof, foundation issues could fix by owner as a Fee simple ownership.
please let us know how we could change to Fee simple.
thank you