master deed

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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For details and a complete list of seminars including Property Developer's Official Guide to Condominium Law of the Philippines, Property Developers' Guide to Subdivision Law of the Philippines, Best Practices in Creating Master Deed Contract, Property Owner's Guide to Ejecting Illegal Dwellers Effectively, log on to www.
Section 5 of the Wacky Apartments Master Deed provides that the common elements or areas of the Project (herein referred to as the 'Common Areas') shall comprise all parts of the Project other than the Units, including without limitation the following:
The above-quoted pertinent provisions of the law and the master deed contemplate that 'common areas,' e.
The framework agreement covers assignments for project management in construction projects for the stage program of action, system / master deed and construction document according Region stergtland project manual.
Joseph Gaied of Holliston bought four units, and was looking to buy more because acquiring 75 percent of the building would land him the master deed.
purchasers with this assurance by drawing up a master deed, a recorded
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.
In the court's eyes, the agent had failed to fulfill his duty when he advised the client to review the master deed to determine whether the condominium association would pay for structural damage to the interior of the insured's unit.
Pursuant to the terms of the Master Deed, the Association provides 'municipal-type' services, including snow/ice removal, street lighting, and trash removal services, to its residents through the expenditure of assessment monies collected from unit owners.
Under the terms of the settlement, the properties' Master Deed and related legal documents will be modified to include formal notification to anyone considering purchase of a Wormwood residential unit.
Furthermore, many condo and co-op owners do not realize that, under a master deed, they may be responsible for covering the cost of damage to the interior portions of their unit: kitchen cabinetry, appliances, bathroom fixtures, flooring, interior walls, ceilings, windows, exterior doors and electrical, plumbing and HVAC systems.