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A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and many other countries.
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
A condop, a portmanteau of the words condominium and cooperative (or "co-op"), is a co-op inside a condo. [3] Stepping back, condominium owners actually hold title to a piece of real estate. Co-op owners are actually shareholder-tenants with shares in and a long-term lease from the co-op corporation. In all co-ops, a corporation owns the building.
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. [1] The home can be a house , such as a single-family house , an apartment , condominium , or a housing cooperative .
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
A housing cooperative, or housing co-op, is a legal entity which owns real estate consisting of one or more residential buildings. The entity is usually a cooperative or a corporation and constitutes a form of housing tenure. Typically housing cooperatives are owned by shareholders but in some cases they can be owned by a non-profit organization.
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Condominiums in Hungary are traded and mortgaged on the same market as any free-standing single-family home (Hungarian: kertesház; "garden-house"), and are treated much like other forms of real estate. The condominium acts as a non-profit legal entity maintaining the common areas of the property, and is managed by a representative (Hungarian ...