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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Unless otherwise expressly provided in the enabling or master deed or the declaration of restrictions, a unit owner is granted: the boundary of the unit, consisting of the interior surfaces of the perimeter walls, floors, ceilings, windows and doors thereof; an exclusive easement for the use of the air space encompassed by the boundaries of the unit as it exists at any particular time and as the unit may lawfully be altered or reconstructed from time to time; co-ownership of the common areas in equal shares, one for each unit, unless otherwise provided; and a non-exclusive easement for ingress, egress and support as appurtenant to each unit and the common areas.
In 2003, persons then holding only 80% of the ownership shares in the property (this Order calls their successors in interest the 'Condominium Tenants') signed a master deed that purported to create a two-unit condominium.
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.
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.cgbp.org or call (02) 842-7148/ 59 and 556-8968/ 69; Cebu lines (032) 512-3106 or 07; Baguio line (074) 423-5148; and Legazpi line (052) 736-0148).
: 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.
"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.
Because this argument arises from the express right of way easement itself, and because the Condominium Trust holds all of those rights pursuant to its Master Deed, only the Condominium Trust can bring it.
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: