I was out showing condo's the other day and i ask the buyer, do you know what you are buying? The answer was interesting. They thought they were buying an apartment condo. Not really, they type of living was an apartment, but, that is not what you are buying. Then what are they? you ask. The answer is: unit factors.
What are unit factors? all condos are based on 10,000 units. They are divided up for the living space. If there are 2 units then each would have 5000 units. There are never more than 10,000 units, if a condo runs out of money and they need money, say, $10,000 that means each unit would pay $5,000 or if you had 229 units it would be $229.
This is known as a special assessment. that is for another day.
Know your unit factors that is what you are buying, the apartment is the exclusive space you get to live in!