Condo Conversions Explained – Everything You Need To Know, Part 1 of 2

Real Estate Law Podcast - Condo Conversions

What exactly is a condo conversion, you ask?

You have come to the right spot!

We have a two-part conversation about condo conversions.

  • What is a condo conversion?
  • Dividing up existing real estate into different pieces (not by lot line) so that they can be sold or owned separately.
  • It’s not a physical difference – just a legal one.
  • Why would you do a condo conversion? (Hint – If it’s more profitable to sell units separately).
  • Some planning is involved for marketability – Separate utilities, Level of finishing, Sensible layouts and amenities
  • How to do it: three items needed:
  • Master Plan – as built drawing by architect and surveyor
  • Master Deed – description of units – who owns what – prepared by attorney in conjunction with architect’s plans
  • Declaration of Trust – how the condo is managed, rules – prepared by attorney
  • Legal limits, such as 4+ units, Extra municipal rules, and Taxes

Other considerations – Registered land approval and insurance

Learn all of this about the condo conversion process and more! Join Jason Muth and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!

Join Jason Muth and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!

RELATED EPISODES:

The Real Estate Law Podcast Episode 11

Condo Conversions Explained - Everything You Need To Know, Part 1 of 2

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Do you have questions for us? Interesting in working together? Do you have ideas for a future podcast episode? Email us today!

Need a Keynote Speaker, Panelist, Conference Session Moderator, or Podcast Guest? Real Estate Attorney / Broker Rory Gill or Jason Muth are available. Email Rory or Email Jason today!

We’re powered by the following sponsors:

NextHome Titletown Real Estate, Greater Boston’s progressive real estate brokerage. NextHome Titletown Real Estate is a wholly-owned franchise of NextHome, Inc., the fastest growing real estate franchise in the United States, with 500+ offices and 3,000+ NextHomies in 45 states since 2015.

UrbanVillage Legal, Massachusetts Real Estate Counsel serving savvy property owners, lenders and investors more at UrbanVillageLegal.com.

The Real Estate Law Podcast is hosted by Jason Muth and Attorney / Broker Rory Gill.

This podcast and these show notes are not legal advice, but we hope you find both entertaining and informative.

Discover more entertaining and informative conversations about how and where the worlds of real estate and law intersect at RealEstateLawPodcast.com.

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The Real Estate Law Podcast, because real estate is more than just pretty pictures and law goes well beyond the paperwork and courtroom arguments. Thank you for listening and for reading these show notes!


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© 2021 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
MLS PIN data last updated at September 23, 2021 1:38 PM ET

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