✅A home by any other name (condo of townhome)?

Definition of condo |||

: CONDOMINIUM sense 3: such as

a: a unit in a multiunit structure (such as an apartment building) or on land owned in common (such as a town house complex)

Definition of townhome |||


: a house that has two or three levels and that is attached to a similar house by a shared wall : TOWN HOUSE sense 1

Thanks to the source, these definitions are circular and almost identical, right?

Clarity of these definitions has become a burning question in the neighborhood of Cobblestone Canyon, Trilogy Glen Ivy, a 170-homeowner enclave with a larger 1317-homeowner association (HOA) in the central Temescal Valley, south of Corona 92883 and east of the sprawling, rugged wilderness of the Cleveland National Forest.

It is that forest area, and risk of wildfires, that prompted the redefinition of these dwellings from condos to townhomes.  In November 2021, homeowners were notified of the cancelation of their collective fire insurance policy, now making it necessary for all individual homeowners to secure replacement HO3 policies for the former HO6 coverage.

The unique architecture of the Cobblestone units with only two dwellings per separate building (one stacked upon another) means what had been called a condo, may actually be labeled a townhome. All previous discussion and disclosure of these units (and the HOA CC&Rs) failed to address these definitions in this way.

Now, the townhome designation qualifies each homeowner to individually seek and secure HO3 policies that cover liability (including fire) for both the inside and outside of their units because, at this time, fire coverage under an HOA policy is not affordable or available.

Given this definition of Cobblestone Canyon, another myth possibly needs to be addressed: “Condo owners only own the air within the four walls of their units!” Still true or not?

The legal beagles of the HOA are possibly working to clean up that myth (and related matters) in the light of recent developments. Stay tuned for details. in ★TRILO★PEDIA® |||


“Insurable interest is a type of investment that protects anything subject to a financial loss. A person or entity has an insurable interest in an item, event or action when the damage or loss of the object would cause a financial loss or other hardships. To have an insurable interest a person or entity would take out an insurance policy protecting the person, item, or event in question. The insurance policy would mitigate the risk of loss if something happens to the asset—like becoming damaged or lost.

“Insurable interest is an essential requirement for issuing an insurance policy that makes the entity or event legal, valid and protected against intentionally harmful acts. People not subject to financial loss do not have an insurable interest. Therefore a person or entity cannot purchase an insurance policy to cover themselves if they are not actually subject to the risk of financial loss.” |||




Getting Through It