Party Wall
Definition of 'Party Wall'In real estate, a shared wall that separates housing units. Party walls are most commonly found in apartments, condominiums and office complexes where different tenants share a common structure. Party walls can be a non-structural wall, but laws in various jurisdictions outline requirements for how party walls must be constructed. |
|
Investopedia explains 'Party Wall'Party walls are sometimes built with additional insulation so that sound from an adjoining unit does not disturb neighbors. In addition, some building codes require party walls to be built as fire walls, with noncombustible material extending from the foundation to the roof. If a fire occurs in one unit, a fire wall helps to slow the spread of the fire into adjoining units. Not only is this safer for tenants, but it also helps to contain fires and limit property damage. |
Related Definitions
Articles Of Interest
-
Tips For The Prospective Landlord
Investing in rental property can generate serious income, but there's more to it than collecting rent. -
Condo Complications: The Issues Behind Ownership
Being a "condo person" is just one of the issues you'll have to examine when deciding if a condo is right for you. -
An Introduction To Buying A Condominium
This real estate investment provides unique advantages - and challenges. -
Easy Ways To Cut Rental Costs
If rent payments are crippling your finances, then read on to learn how to save your money. -
Does Condo Life Suit You?
Association fees and disputes with neighbors could spoil your move if you're unprepared. -
To Rent Or Buy? There's More To It Than Money
Your lifestyle, level of commitment and the trade-offs need to be carefully weighed. -
To Rent Or Buy? The Financial Issues
Thinking of buying a home? We look at the initial and ongoing costs, as well as the so-called benefits. -
The Complete Guide To Becoming A Landlord
Being a landlord can be a fulfilling and financially rewarding experience. However, the decision to become a landlord should not be taken lightly. -
Reasons Renting Is Better Than Buying
Owning a home is much more expensive than renting. Here are the places where the costs differ greatly. -
In Retirement, Snowbirds Leave Cold Weather Behind
Rather than shivering away their golden years, retirees can fly south to winter in sunny locales.
Free Annual Reports