To avoid confusion on quantity and identification of parking stalls you should be aware:
The 2 popular forms of title on parking stalls are Fee Simple and Limited Common Element. The latter is the most popular.
With fee simple, you receive a deed.
When you purchase a condo which already has a stall(s) attached to it, the only indication you'll receive is the stall number(s) will be referred to you your deed. That is not a guarantee of ownership. Ownership is a function of the original declarations and amendments to the declarations.
To be certain you must run a type of title search on the amendments to the declarations of condominium property regime. That process will discover the chain of title on the subject parking stall(s). Escrow companies typically perform this service for you at additional cost. The amendments to declarations you receive with a Condo Docs package is incomplete and cannot be used for this purpose.
|