Party Wall

Dictionary Says

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 Says

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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Property Rights

    Laws created by ...
  2. Condominium

    A large property ...
  3. Landlord

    A real estate ...
  4. Implied Warranty Of Habitability

    An unstated ...
  5. Residential Rental Property

    A type of ...
  6. Sublease

    A real property ...
  7. Lessee

    The person who ...
  8. Lease

    A legal document ...
  9. Joint Tenants in Common - JTIC

    A type of ...
  10. Tenants In Common - TIC

    The co-owners of ...

Articles Of Interest

  1. Tips For The Prospective Landlord

    Investing in rental property can generate serious income, but there's more to it than collecting rent.
  2. An Introduction To Buying A Condominium

    This real estate investment provides unique advantages - and challenges.
  3. Does Condo Life Suit You?

    Association fees and disputes with neighbors could spoil your move if you're unprepared.
  4. Easy Ways To Cut Rental Costs

    If rent payments are crippling your finances, then read on to learn how to save your money.
  5. 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.
  6. Retirement Living: Renting Vs. Home Ownership

    Here are three simple questions you should consider when weighing this decision.
  7. Moving Back Home: A Win-Win Situation

    When a young adult moves back home it can be beneficial for their finances and their parents'.
  8. The Benefits And Pitfalls Of Joint Tenancy

    This arrangement allows beneficiaries to access your account without having to go to court.
  9. 6 Tips For Renting An Apartment

    Find out what you can do to find a fabulous apartment to fit your budget.
  10. Rent-To-Own Real Estate Full Of Pitfalls

    Before you consider this type of arrangement, you should be aware of how it works, who benefits and the many things that can go wrong.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center