Residential CPR Homes (Lahaina: apartment, condominiums, townhouse)

[Frangi914]

Can anyone please explain what these are and what the limitations are. We have seen several of these in Lahaina that are 1000 square feet which at first we thought was kind of small, but then maybe not for two.

Thanks

[cynmkolohe]

Click here: Department of Commerce & Consumer Affairs - So You Want to Go Condo? (http://www.hawaii.gov/dcca/areas/real/condo_ed/condo_gen/condo_pub/condo_gocondo - broken link)

The process of creating a condominium is often referred to as "CPRing" property.

Condominiums come in many forms and encompass a variety of uses as may be permitted by zoning regulations. Some of the allowable uses by zoning include: residential, commercial, industrial and agricultural.

A condominium is a form of ownership of real property regardless of the architectural style of the apartment, be it in a high-rise, townhouse or detached unit.

Condominium ownership is described as ownership of an apartment (or unit) and a percentage of undivided interest in the common elements. The apartment owner is entitled to exclusive ownership of the apartment but the land is a common element, owned jointly in common with other apartment owners in the condominium project. Examples of other traditional common elements are lobbies, hallways, roofs and roadways.

Yard areas or parking spaces which are provided for an apartment's exclusive use (versus ownership) are usually identified as limited common elements.

Be sure to get information on the "common elements". What is shared, how possible assessments are determined. Review all documents carefully.

[Frangi914]

Thanks so much for the information. That's not going to be good for us as we want to own the land the home resides on. We are looking at all possible options and was curious when we saw the homes. We appreciate the clarification.