A form of real estate ownership where individual residents hold a deed and title to their houses or apartments and share maintenance costs for common areas managed by a dedicated company.
The process of changing the ownership structure of a building from a single owner to multiple owners, each owning individual units, typically through a legal and regulatory framework.
A dwelling refers to a place of residence where individuals or families live, such as houses, apartments, and other structures intended for habitation.
An agency within the U.S. Department of Housing and Urban Development, founded in 1934, that administers various loan, loan guarantee, and loan insurance programs to increase housing availability.
Homeownership refers to the state of living in a structure that one owns, rather than renting or serving as a tenant. Owning a home provides financial stability and potential asset appreciation over time.
Housing and Urban Development (HUD) is a cabinet-level U.S. government agency established in 1965 to implement federal housing and community development programs. The Federal Housing Administration (FHA) is a part of HUD.
Land-use succession refers to the dynamic process where the predominant use of a neighborhood or area changes over time due to various social, economic, and environmental factors.
A Residential District refers to a district or an area designated specifically for people to live in. In contrast to commercial or industrial areas, residential districts are largely occupied by housing and are subject to specific zoning laws laid out in zoning maps.
Residential property refers to real estate designated for human habitation, including both single-family homes and multi-family buildings. These properties are typically zoned for private living and can encompass houses, apartments, townhouses, and condominiums.
Rurban areas are regions on the fringe of urban development that are in the process of being developed for urban uses.
A suburb is a town or an unincorporated developed area close to a city that is largely residential and typically characterized by low-density development compared to urban centers.
A town house is a dwelling unit, generally having two or more floors and attached to other similar units via party walls. Town houses are often used in planned unit developments and condominium developments, which provide for clustered or attached housing and common open space.
