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Old 02-22-2018, 12:29 AM
 
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I found the deed registration to a property I am considering purchasing online. The following statement is included:

"ENTIRE BLDG/STRUC. NOT INCL IN ASMT"

What does this mean? This is a foreclosure. That is a comment from the sheriff's auction when the bank took the property back. This building is not seperated into condos
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Old 02-22-2018, 04:45 AM
 
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"ASMT" might refer to Assignment. In any case, it doesn't sound like the entire property is included in any sale. What do you mean by "This building is not separated into condos"? Is it a condo?
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Old 02-22-2018, 05:32 AM
 
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Quote:
Originally Posted by jackmichigan View Post
"ASMT" might refer to Assignment. In any case, it doesn't sound like the entire property is included in any sale. What do you mean by "This building is not separated into condos"? Is it a condo?
No it's a multifamily home that is a row house. Wouldn't there be another deed if that were the case? Though looking at the deed it has a space for condo and it is marked "Y" even though there is no seperate listing for those. So it looks like you are right.
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Old 02-22-2018, 06:03 AM
 
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Originally Posted by jdm2008 View Post
No it's a multifamily home that is a row house. Wouldn't there be another deed if that were the case? Though looking at the deed it has a space for condo and it is marked "Y" even though there is no seperate listing for those. So it looks like you are right.
A deed is an instrument of conveyance, so I'm not sure that I follow your question. We don't have row houses in this area so I'm not that familiar with them. However, if there are multiple individually owned units within one building, row houses are simply another form of condominium ownership in that context.
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Old 02-22-2018, 08:24 AM
 
Location: NC
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Perhaps it just refers to the fact that the deed is to only one residence and not the entire row. For example if there are 10-row homes, you are only buying the one indicated and not the entire structure of 10.

For most locals this would be obvious but maybe some potential buyers would not be familiar with row-homes and how they are deeded.
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Old 02-23-2018, 02:46 PM
 
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Simply local legal terms, meaning the entire building is not for sale, just the one home of the row of homes in that total building.
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Old 02-23-2018, 04:24 PM
 
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It means "The entire or whole building, which is also called a structure, is not included in the given assessment even though all these row houses are stuck together..no, you only get the one house"
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