condominium declaration

condominium declaration

The document that establishes the legal existence of the condominium project and the ability to divide airspace into horizontal layers of ownership. The condominium declaration must be filed with the designated public official for the state or county where the land is located.

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Section 9(e) of the act provides that the condominium declaration may provide for the assessment, in connection with expenditures for the limited common elements, of only those units to which the limited common elements are assigned.
* The condominium declaration, which is subject to the condominium act, and
Pinewood Estates Condominium Association, that the provisions in the condominium declaration compel the purchaser at foreclosure or voluntary sale to pay pre-foreclosure assessments.
The original condominium declaration for 45 John Street called for 84 residential units, including seven penthouses each with private terraces, and 11 foot ceilings heights.
Because the estate holder appears as the titleholder, the owner effectively circumvents the restriction on assignment provided for in the condominium declaration. An owner can thus transfer the condominium to a transferee that the condominium association would otherwise find to be undesirable, and may do so without penalty.
Perspective purchasers were to be made aware, through the condominium declaration, that the subject lands would experience occasional flooding as per the design of this development.
* "Condominium declaration" is the instrument that subjects immovable property to the Louisiana Condominium Act.
In order to avoid application of the default rule, the lender must craft the deed so that it specifically exempts from transfer those special declarant rights reserved by the developer/borrower under the condominium declaration (except the right to maintain a sales office and model units, which is discussed more thoroughly later).
Until 2007, unless the condominium declaration provided otherwise, the only method of terminating a condominium was to secure agreement from all unit owners and all mortgagees, (1) an almost impossible task.
In this initial meeting you need to find out how far down the line the developer is in the conversion process, and how the condominium declaration addresses unsold units and management of the common areas.
Section 2.1(f) of the Illinois Condominium Property Act defines "person" as "a natural individual, corporation, partnership, trustee or other legal entity capable of holding title to real property." The typical definition of "person" in a condominium declaration reads similarly.
In Woodside Village, the Florida Supreme Court held that an amendment to a condominium declaration adopted by the unit owners imposing substantial restrictions on the leasing of units was valid and enforceable even against those owners who acquired their units prior to the amendment.