Thanks Eva, unfortunately, the volumes of air search only returns four hits, of which basically one is valid and has as much information as we've shared. You were the poster BTW.
I'm more interested in how unlike 'ownership' the volumes of air ownership is when you are an issue with a complex that has one or more HOAs. This is what another poster referred to with the CC&Rs;.
For example, in a prior place I owned, the complex was townhomes constructed of basically large duplexes sharing a common central wall between two owners. The complex had 70 total units. As you note, for the common areas, I had a 1/70th 'ownership'. For my space I had the volumes of air. As another noted, due to the CC&Rs;, my ownership had few of the perceived benefits of 'ownership' other than a legal 'onwership' right to the space. That's another story.
What is interesting to me, is some of the dynamics of the insurance, replacement when something happens to the structure itself. Large scale complex destruction or more problematically, single unit destruction. Hypothetically, let's use the example of my former complex. Say your neighbor likes to relax on Friday nights after work by downing some beers, having some friends over and louging in the community jacuzzi. Said same neighbors smoke like fish when they're drinking. Let' pretend there's an accidental fire that burns the duplex down.
Anybody got guesses on how long it'll take to get your townhome rebuilt? This is were ownership differs. I can't rebuild. The HOA has to rebuild. I can't rebuild what I want, the HOA will rebuild what was there (unless I've got pull with the HOA.
) etc.
That said, yes, there's a world of difference between leased land and 'volumes of air'. Although I suspect when people say you don't 'own' the land they really mean the problems associated with HOAs.
