Landominiums

LarryB13 (Arizona)
Posts: 4,099

Posted:

One of my old high-school classmates in Ohio recently announced that he was selling his single-family home and moving to a "Landominium."

Is anyone familiar with that term? My reading indicates that it is just a plain old single-family-home-on-a-deeded-lot-inside-an-HOA but that there is some expectation that the association will mow the lawns and do some other exterior maintenance.

Is a landominium recognized anywhere in the law as differing from a condominium or is this just some cutesy-poo real estate marketing term?

DanaT (Tennessee)
Posts: 214

Posted:

Quote:

Posted By LarryB13 on 08/02/2016 8:22 AM
Is a landominium recognized anywhere in the law as differing from a condominium or is this just some cutesy-poo real estate marketing term?

IMHO, if it is not listed as a "Legal Term", it is a sales gimmick. Now, this is from a article on-line.

"A landominium, on the other hand, (by the way, there is no legal definition of this form of ownership and "landominium" is the commonly accepted phrase) is really a form of special zoning. Under this format, the owner is purchasing a parcel of ground on which the residence is constructed (ranch or townhouse) and the ownership includes the land, as well as the improvements to the exclusion of the other contiguous owners. Thus the landominium boundaries would be the lot up to the sky to infinity and downward tot he core of the earth. Unlike the condo's cube of airspace, the landominium maintenance and replacement of the building would be solely left to the owner, however, many associations provide that all exterior maintenance and landscaping, etc. is done by the association. the land outside of each individual lot is owned in common by all the owners, unlike he condo where the units compromise the entire ownership. For tax purposes, the only tax bills for a condo are the unit bills whereas, with a landominium, there are separate tax bills for each lot plus a bill for the common lot owned in common". http://greatercincyrealestate.blogspot.com/2010/06/condominium-vs-landominium-whats.html

Talk about a can of worms when it comes down to legal definitions and what law supersedes what law verses your CCRs if there are even any at all. I would hate to be the Ginnypig for this adventure.

GordonS1 (Washington)
Posts: 18

Posted:

This type of ownership structure is not uncommon, but more often referred to as a "zero-lot line" community or simply townhouses. It simply means that the ownership interest comprises the land and the structure on top, although the association typically still maintains the exterior of the building and some or all of the landscaping.

Functionally it is not very much different than a condo association.