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master deed

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master deed

A document used by condominium developers to record the project;its division into condominium ownership;and the grant of common areas to the condominium owners.Also called the declarations,the condominium declaration,or the declaration of condominium.(Do not confuse with master's deed.)



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This master deed would apply to all lots in the community and would thus have the same effect as inserting covenants into all the deeds.
Apartment owners often do not realize that their master deed may leave them liable for any damage to the interior portions of their units or building common areas.
Despite the premium level, the trial court found the agent negligent for failing to obtain and analyze a copy of the condominium master deed to determine the amount of dwelling coverage the insured needed.
 
 
 
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