Question
Own a (mortgaged) condo that I rent out. How do I figure ownership percentage? Is it my percentage of the whole bldg or just of my unit? If latter, how do I calculate?
I know what my ownership percentage is of the entire development, but have no idea how to calculate the percentage of my ownership of my individual unit, given the fact that I have a mortgage on the unit. I am the sole owner, besides the bank. Does the existence of mortgage have any bearing on how I would calculate this?
