What is the name of your state (only U.S. law)? New York.
The owners of my condominium, in New York City, have voted in favor of splitting up a large awkward unit, owned by the condo, into several more sensible and manageable units. The subdivided units will have their own tax lot numbers, and the "left-over" space will revert to a common element.
The problem is, the space is zoned for community facility use.
So is it possible to make the left-over space a common element, without a tax lot number, even though it's zoned for community facility use (as opposed to all the other common areas, which do not have tax lot numbers)? If so, could that be problematic in the future?
Or should the left-over space remain a "unit" and retain its current tax lot number?
Thanks.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
The owners of my condominium, in New York City, have voted in favor of splitting up a large awkward unit, owned by the condo, into several more sensible and manageable units. The subdivided units will have their own tax lot numbers, and the "left-over" space will revert to a common element.
The problem is, the space is zoned for community facility use.
So is it possible to make the left-over space a common element, without a tax lot number, even though it's zoned for community facility use (as opposed to all the other common areas, which do not have tax lot numbers)? If so, could that be problematic in the future?
Or should the left-over space remain a "unit" and retain its current tax lot number?
Thanks.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?