EXTREMELY doubtful.
difference between Indian and English law under consideration
Yes. A condominium is real property and is an estate owned in fee: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium.
You can find the law using Title XL, REAL AND PERSONAL PROPERTY, Chapter 718, CONDOMINIUMS.
The Illinois condominium law -- below -- uses the language "reasonable reserves" which leaves the dollar amount or minimum up to wide interpretation. See Chapter 9: Budgets and Reserves. Unfortunately for those of us who live in common interest communities, the law and best practices are not in sync on these matters. Ideally, an association would fund reserves so that the chances of a special assessment to pay for major repairs would be in the 1-2% range. This would be a best practice.
Ashoka
You should contact the law firm that represents the condominium and learn how condominium liens are handled in your state.
Robert I. Shapiro has written: 'Florida condominium law and practice' -- subject(s): Condominium associations, Condominiums, Forms, Law and legislation
Alain Coret has written: 'Le condominium' -- subject(s): Condominium (International law)
There may be basic guidelines in Florida law, but the law that applies is based in the governing documents for the condominium association that owns the pool. There is no standard
If you are developing a condominium project, you hire an association-savvy attorney who crafts the governing documents, based on state law that governs condominiums. When you purchase a condominium, by law you are entitled to copies of all your governing documents. (In Washington State, these documents are packaged in the Resale Certificate.) If you own a condominium, and your copies are lost, your association manager can provide you with copies, which you pay for. If you are interested in buying a condominium, again, you can purchase copies of the governing documents, most of which are public record.
Condominium projects are created pursuant to state law. The governing law in your state would be recited in the body of the Master Deed that ceated the condominium. You would need to review the Master Deed for the statute and research that statute to determine how to withdraw the property from its status as a condominium. It can be done. The provisions for terminating a condominium are set forth in the statute and generally involve the assent by majority of (or all) the owners. The most common withdrawal involves a failed condominium project. In that case all the units are acquired by a single owner and that owner can apply to remove the property from classification as a condominium. Such projects are converted into rental properties. You need to check the law in your state.
He was into Law and Odor.
Law and Odor
In most states, a state law is the basis for condominium ownership, development and governance. Below is a link from the State of California for condominium consumers.
No, in New York State, you cannot sell a condo unit without the condo declaration being recorded. The condo declaration is a legal document that establishes the rights and obligations of condo owners and is necessary for the sale of the unit to occur. Recording the declaration protects the rights and interests of all parties involved in the condo transaction.
Ape Escape - 2008 Law and Odor 1-38 was released on: USA: 2009
The first condominium in the US was developed in the US Commonwealth of Puerto Rico in 1958. The first condominium project in the Continental US was in Salt Lake City, Utah in 1960, under that state's condominium law passed in 1960. There were condominium laws in every state by 1969 and condominium is the legal term used in the US and Canada. Other terms are used throughout the world.