limited common elements

limited common elements

In a condominium project,individual owners own the airspace within their exterior walls,the ceiling,and the floor of their unit.Everything else is owned in common with all other owners in the project.The theory requires some modification because things like balconies, front doors, and windows really provide benefit for only specific unit owners. There may also be assigned parking places, boat slips, or storage lockers. Such things are called limited common elements and must be defined in the condominium documents.

References in periodicals archive ?
Section 2(s) of the Illinois Condominium Property Act provides that a portion of the common elements can be designated as limited common elements, and that the declaration can reserve the use of the limited common elements to a certain unit or units.
Section 9(e) of the act further provides that the condominium instruments 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.
A close look at your declaration is in order to determine if the garages are limited common elements, and if the required chargeback language is included.
We are currently of the opinion that if the condo documents (master deed and bylaws) require the association to insure, for example, all units, common elements and limited common elements, the CP 00 17 would pick up coverage for carpet, wallpaper and paint.
It becomes more complicated with limited common elements, such as a patio or balcony shared by only two or three units.
Two parking spaces are assigned to my condominium unit as limited common elements.
In general, an owner can transfer a limited common element parking space to another unit owner.
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