Property Ownership
What is a 'condominium hotel' (condo-hotel) and how is it regulated in Pennsylvania?
AA hotel that has been converted to condominium ownership by the municipality
BA hybrid property where individual units are sold to owners who, when not using the unit, place it in a hotel rental pool; subject to both the PA Condominium Act and securities law considerations✓ Correct
CA Pennsylvania zoning designation for properties used both as residences and bed-and-breakfasts
DA time-share structure regulated exclusively under the PA Real Estate Time-share Act
Explanation
Condo-hotels combine condominium ownership with hotel operations — unit owners hold title but participate in a rental management program. When units are sold with investment-income representations, they may qualify as securities under SEC regulations.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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