What is the difference between a common element and a limited common element, and why does it matter?

First, it is important to understand how the Louisiana Condominium Act defines condominium terms. For example, the term “Condominium” is defined as the property regime under which portions of immovable property are subject to individual ownership and the remainder thereof is owned in indivision by such unit owners. A “unit” is defined as part of… Continue reading What is the difference between a common element and a limited common element, and why does it matter?

By FavretLawFirm Mar 12, 2021