Is the land under the condo unit owned by the unit buyer or the condominium corporation?
Read your governing documents to determine what is owned by individual owners and what is owned by the association.
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Would adding a clothes washer to a second floor condominium unit impact the plumbing of the condo unit directly beneath the second floor unit?
Answer . \nit depends on how your lines run. usually it woulden't effect anything but if your sewer line is to close to some of the fixtures in the upper floor the suds from the washer could back up into the other fixtures.
Is a condo unit holder legally allowed to request documents regarding water damage in the building especially when one's own unit is involved?
If they are needed for a valid purpose such as insurance claims, the person could ask for them to be voluntarily presented. If refused, it is possible an order from the court could be obtained. Assuming there was evidence provided that such documents were needed. A condo unit owner is to be furnish…ed with any requested information about the condo project, ESPECIALLY if it concerns your unit. Read the Declarations of the Condo Assoc. They should have been provided to you at closing, if not, call the title co. and ask for them (MORE)
The government of Alberta is responsible for maintaining a record of ownership of land in the Provence. Read more, below.
Read your governing documents to determine the extent to which you can modify your windows. If you want to install a different kind of window unit in an existing window 'hole in the wall', board approval may be required. If your question has to do with an air conditioning unit, again, you may nee…d board approval to install such a unit. (MORE)
By window units, one can assume that you mean air conditioners. Read your governing documents to determine how the community's guidelines address air conditioners. Then, you can work with your board to adjust the comfort level of your unit during extreme weather conditions.
Doesn't townhouse ownership include the land beneath it versus a condominium where owners own only their unit plus a part of shared common grounds and amenities?
When you buy real estate, you are entitled to understand exactly what is included in your ownership. For a condominium, you can read the governing documents that detail the boundary between what is privately owned and what is owned in common, including limited common areas dedicated for your use. … If the townhouse is part of a community ownership scheme, those governing documents give these details. Finally, if you have a question about what you own, your local county tax assessor will be able to tell you exactly what is included in your property tax payment. (MORE)
it owns the lot around the HQ building, as well as international territory in the other continents.
By filing liens against the owner(s) of the unit. If the liens go unpaid, the association can foreclose on the unit and sell it in order to satisfy the liens. More Detail Foreclosing a unit to pay any monies owed to the association is usually a last step in a process that begins with the assoc…iation notifying the owner(s) that monies are owed. Owner(s) ignore these initial notices at their peril. (MORE)
You can review your governing documents and determine exactly what you own. Every set of governing documents that cover condominiums is different from every other set of governing documents. Look in your governing documents for these definitions: . Unit: Usually, an owner who buys a 'unit' owns… 'everything from the paint/ skin/ studs' inward: there is a defined line of ownership. . Limited Common Elements: These are set aside for the exclusive use of that unit owner. An example is: a deck, a balcony, a parking stall. . Common Elements: Examples include, siding, doors, roofs, lawns, pool, club house, golf course. . Other : Your unique condominium community and property may include other elements that owners also 'own' in common with all other unit owners. (MORE)
If a lien has been placed on your unit, it went to auction, and somebody bought your stuff, it is up to the storage facility manager whether or not to provide you the contact info of the buyer. Note that storage facilities HATE auctions because of issues like this that arise, but there's no harm in …asking politely. Especially if it was a personal item of little market value, and you're talking about compensating the person who purchased the unit, you may have some luck finding the person who has your items. (MORE)
A lien for unpaid assessments has been placed on your unit by the condo association - can they foreclose on your condo owned outright?
You can find the answer you want in your governing documents. Usually, regardless of the ownership status -- outright ownership or mortgaged -- unpaid condominium assessments represent an automatic lien on your unit's title. Apparently, your board has filed a formal lien with the court based on th…ese unpaid assessments. Your governing documents may detail the extent to which the board can act, which might include foreclosure on your unit in order to recover these unpaid assessments. (Your assessments pay communal fees, such as master policy insurance premiums, garbage and recycle fees, landscaping, utilities, and property management expenses, staff salaries, and more. Not paying your assessments means that you may be 'living on the backs' of your neighbors, because they are paying your share of common expenses.) (MORE)
Logically, the answer could be 'yes'. However, if the project remains under development, the developer may retain development rights over which you have no control.
Any sample deed of sale will necessarily be edited, modified and amended, based on your governing documents. Your local realtor can help you develop a deed of sale that will be legal for your purposes. Answer You should consult with an attorney who specializes in real estate law if you ne…ed to execute a deed. Deeds should always be drafted by a legal professional. If you only want to see what a condominium deed looks like you should visit your local land records office where you could look up recent transfers of condominium units in your area. (MORE)
It's a good idea to check with the current owner -- the bank, or whomever owns the unit -- before entering it. For safety and security reasons -- to inspect for potential frozen pipes, turn off the hot water heater, set minimum heat in cold winter months, and so forth -- the association may be in a… more immediate position to ascertain what tasks must be completed to verify that an empty unit poses no hazard to the community overall, than the current owner. Your governing documents may also describe the minimum notice period and form of notice required prior to unit entry, with the extra tip that posting a notice of intent to enter on the door might be a good idea. Upon entry, it will be a good idea to document the tasks to be performed, the names of the people who entered the unit -- usually two -- the time and date, and other key details. Leave a copy of the entry log on a counter in clear view, simply to produce transparency in this board action. (MORE)
In a NJ condominium that you own two or more units would you become a member in bad standing if you paid assessments on one unit and did not pay on the other units?
Regardless of the number of units that you own, you owe assessments on every unit. Read your governing documents to understand your commitment to pay assessments. In addition, you can read the board's process and action steps it can take to collect this debt that you owe, including potentially, sel…ling your unit(s). As a 'member in bad standing' you may not be able to vote in association business. Again, your governing documents will inform you of restrictions made against owners who fail to pay their assessments. When you fail to pay your assessments, you're essentially asking your neighbors to pay your bills. (MORE)
Zero. There are government lands and National parks, but per sae the US does not "own Land."
Your answer depends on the location of the unit, the amount ofspace in the unit and your anticipated use of the space. There isno standard.
Yes. Read your governing documents to discover under which terms the association can sell your unit. Generally, this is possible when an owner who has agreed to pay assessments, fails to pay them, so the association's board is required to collect the money it is owed. Sometimes, and usually, as …a last resort, the association can sell your unit to satisfy this debt. (MORE)
A condominium unit is a single unit in a condominium project, whether residential or commercial. A condominium phase is a development period, during which a developer builds, finishes and/or sells a set or collection of condominium units.
Would a dock that is attached to a condominium with boat slips which are deeded to individual owners of units in condo be part of the common elements?
Read your governing documents to determine the ownership status, the maintenance responsibility and the other pertinent details associated with the boat slips in your community.
Personally, I would not buy a condominium unless my review of the complete declaration was finished. Otherwise, you (and I) have zero idea about the community you're (I'm) buying into. Whether or not it can be sold may be a local legal issue. See your state condominium statute.
The number -- usually expressed as a percentage of owner-occupancy -- depends on your governing documents. In recent times, the governing documents you need to look for are those board meeting minutes that contain references to 'rental caps' or resolutions that the board has passed establishing th…e number of rental units allowed by the association. Boards must be vigilant about this number, because lenders review the number before giving mortgages to prospective unit buyers. When there are too many rental units, the lender may deny a mortgage. Government entities, such as 'Freddie Mac' and 'Freddie Mae' recast this percentage several times during 2009-2010, so in order to position the association's units as desirable to mortgage lenders, boards have used their percentages. A local lender can give you the desirable percentage today, since the number does have a tendency to fluctuate. (MORE)
The probate process in the state of Florida will settle ownership. Resolution probably depends on any Will, or the lack of a Will, left by the decedent unit owner.
Your condo association told a potential buyer of your unit he would be denied occupancy by the board as he is a convicted felon Is this legal?
Discrimination against 'felons' is a tender subject. There is no uniform answer. In some states, felons who have served their terms may not receive student loans, may not vote, may not receive welfare aid and so forth. The condominium board should be able to rely upon a background check or upo…n a statement within your governing documents to justify this discrimination. For example, the board may interested in keeping some kinds of convicted felons out of the community. Your first question should be to the board, from whom you can request documented justification for denying this potential buyer the opportunity to purchase a unit. You can also seek legal counsel in your state to determine a felon's legal rights. (MORE)
Is a unit owner in a condominium can be considered as third party claimant under a comprehensive general liability insurance?
If yours is a general question, you can ask a board member to get an answer from the master insurance policy carrier, where the association's comprehensive general liability insurance premium is generally paid. Also, ask about the deductible amount in the case of a claim. If you carry an HO-6 cond…ominium unit owner's policy, you can ask your agent to verify your liability coverage under the master policy -- or potentially under your HO-6 policy. If you have a claim, again, by going through your HO-6 policy agent, you can give the opportunity to answer to the insurance companies, who will resolve the question according to the coverage that the premiums pay for. In this case, you also need to understand who pays the deductible in the case of a claim. As a citizen, generally, you would carry your own comprehensive general liability insurance, so that you're covered regardless of where you live. (MORE)
The state of Maryland ceded a portion of its land north of the Potomac River and the state of Virginia ceded a portion of its land south of the Potomac River to create District of Columbia. It would have been a perfect square (standing on a point) as called for in the US Constitution and as drawn by… George Washington, but Virginia asked to have its part back and the federal government gave it back. . (MORE)
In US, the definition of a studio is loosely a single room or a small space where a person lives with furniture that serves multiple purposes -- i.e., a Murphy bed, etc. A condominium is a living space that you purchase, with the idea that you also purchase and therefore ultimately own other parts… of the whole community -- common area owned with other owners who also own their own units. (MORE)
There is no normal in terms of configuration of units in a condominium building. The developer built as many units as s/he believed that s/he could sell, given the zoning, height restrictions and parking requirements set out by the city where the building was constructed.
Generally, a condominium is a distinct form of ownership in the U.S. whereby an individual owns a unit and shares joint ownershipwith the other unit owners of the common areas which includes theland. All condo unit owners share title to common areas. Common areasinclude land, the exterior of buildi…ngs, hallways, roofs, swimmingpools, etc. They share ownership with the developer until all theunits are sold. (MORE)
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. (MORE)
If bought a condo but the developer continues to significantly rent units is there an out for a condo owner Is the developer responsible for a certain buyer vs renter percentage?
Read your governing documents to determine what the developer is 'allowed' to do during the 'declarant control period'. As well, determine the status of the project, so that you know what ratios are appropriate in your case. After the first sale by the developer, the clock ticks on several legal …elements* within the public offering statement. These include not only declarant's rights, but obligations, responsibilities and so forth. Among these is the responsibility to maintain an owner/renter ratio sufficient to continue to attract mortgage funders. Fannie Mae and Freddie Mac and FHA all have ratios that can be different depending on whether your project is 'new' or 'established'. If you are paying monthly assessments, there is some form of association board to whom you can appeal in writing, if the ratio can affect mortgages. (*As well, in a new project, construction defect statutes of limitations are critical to understand, so that the developer is held to account for construction defects which the association must act upon in order to claim against the developer, to avoid paying for construction defects in later years.) Best practices indicate that you find and join a local chapter of Community Association Institute, a national organization, where you can educate yourself about the early years of condominium ownership in your state and location. A link to their Web site, below. (MORE)
Read your governing documents to determine whether or not this is possible within your association. Limitations may include lenders' positions on this issue.
Read your governing document to determine if there are anyrestrictions in this situation. As well, in this situation, the 33% and 66% numbers can be redflags for insurers and mortgage lenders given current restrictionsinvolving percentages of ownership..
You can contact a local common interest community attorney anddiscuss the current situation, and seek advice about the situationyou want to develop with the existing real estate. There is no standard answer to your query.
This may not be a Florida law, but it is a lender's guideline. Banks are not interested generally in offering mortgages for condominiums in associations where one owner owns more than 10% of the association's assets -- or 50% of its assets IF at least 50% of the units are owner occupied. You can re…ad more, below. (MORE)
Can a condominium association put a lien on the unit owner's business account when the unit is owned by the individual and not the business?
There are several kinds of liens, one of which is generally established automatically in your governing documents, based on your promise to pay your assessments. The association's attorney can formalize this lien and cloud title to your unit ownership as a way to force payment of the monies you owe …and have promised to pay. Another type of lien may require a court proceeding and a judgment against you, in which case, the association may be able to attach whatever assets you own. You are best advised to seek counsel in this matter to better understand why the lien is being attached to your business account. Another option is to simply pay the money you owe and ask that the lien be cleared from your record. Answer Many people own "business accounts" as individuals. Unless you are incorporated or registered as an LLC or some other type of legally recognized business entity then your business account is part of your individual assets and can be attached by your creditors if they can find it. You may have paid some bill at your condominium by using a business check. That would have alerted the association of its existence. Protecting personal assets is one of the main reasons why many people spend the money to set up a corporation. By doing that you can separate your personal assets from your business assets. If you operate under a DBA that does not allow you to protect your business assets. It's only a name. If your business is incorporated the condominium association cannot legally attach that account for your personal debt. (MORE)
You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title. You should contact an attorney who specializes in real estate law in your jurisdiction…. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title. You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title. You should contact an attorney who specializes in real estate law in your jurisdiction. The attorney can draft a proper deed for your jurisdiction and also explain the legal consequences of the transfer of title. (MORE)
Is there any possibility for a relative to own a title of certificate for the condo unit he partly paid?
You and your attorney can answer this title question, given recorded evidence that you provide.
A condominium unit is the space available for ownership as defined by the land-use documents for the condominium association filed in the local court house. The unit may be defined as land, moorage, a townhouse, a suite, an apartment, a single family dwelling, part of a duplex or other enclosed ar…ea for which an owner holds a deed. (MORE)
If you own the unit outright, it would appear as an unencumbered asset, meaning that there would be no off-setting liability that represents a mortgage on the property.
This was signedafter the Revolutionary war. It stated that the 13 colonies were now America.
Any investment in a common interest community insofar as real estate ownership is concerned is just that: common ownership. Most associations are governed according to the legal governing documents and state law covering that type of association, and managed by volunteers who do not necessarily ha…ve any experience operating multi-million dollar organizations. The pros and cons, therefore, are based in the quality of the leadership in charge. You may be blessed with business-savvy owners who volunteer for board positions and who maintain, preserve and protect everyone's investment. On the other hand, you may be cursed with owners invested in the power of a board position, who use the post for their own emotional benefit with little regard for the assets owned in common. (MORE)
The answer you want is based on the legal documents involved, which may include the family lease restriction language and the condominium's rental language contained in the CC&Rs for the association.
Your answer is a legal one, and best answered by anassociation-savvy, or at least land-use savvy attorney. By 'condo plan', you may be referencing a Public OfferingStatement, or other document defining land use. Generally, a mortage lender will require proof of the land-useplan's legal existence -…- filing -- before lending money topurchase a condominium unit within the project. You may not be ableto hold 'clear title' to a unit if there is no land-use plan filedin the local hall of land-use records. (MORE)
Can the owner of a condo unit that subject to a life estate sit on the condominium board if by-laws state only an owner can be a board member?
Yes. The fee owner of the condominium unit is the legal owner even though the unit is subject to life use by another party.
Please review your governing documents -- your CC&Rs, to discover the boundary definition for your unit. Look for the section with boundary in the title. There is no standard: every condominium is different from every other condominium.
Your answer depends on what you request/ demand during your periodof due diligence prior to completing the purchase transaction, thestate law requirements as to documentation required, and theefficiency of the realtor(s) involved in the transaction. For example, if you demand copies of the governing… documents --CC&Rs, By-laws and rules, the last three years history of boardmeetings and financials, any Resale Certificates, sellerdisclosures and so forth before you finalize the transaction, youmay have all the documents you want. Buyers are best advised to obtain all the documents possible prior to purchasing any real estate in a common interestcommunity. If you find something that requires explanation, get theanswers you want. Once you are an owner, you are completely subjected to all thevagaries of the association whether you agree with the documents --or not. This purchase is a classic case of Buyer Beware. (MORE)
Wrong plan leads to a wrong decision. You might have already heardthat buying a condo is not that easy. There are things that youmust think about twice before giving in. There are also someinstances that you have to say 'no' to the things offered to youdespite liking them the most. Another Answer …Understand what kind of 'mistake' you are trying to avoid. Horrorstories abound about condominium ownership, and no horror story isuniversal. Each is unique and individual. Primarily, best practices dictate that you also review the ReserveStudy -- a document that details the useful life of all the realestate assets owned by the association and the financial health ofthe reserve account. Review the past three years' financial statements and the pastthree years of board meeting minutes. Look for overspending againstbudgeted line items and ask questions for explanations. Meetingminutes can reveal lack of transparency and changes to CC&Rs,By-laws and Rules and Regulations. Whenever possible, chat informally with a current resident, todiscover the 'tenor' of the community. Can you live with theattitude and general feeling you find? Also, attend a board meeting if that's possible: the current ownercan invite you. Take the full time to evaluate the 'neighborhood review' before youpurchase, to confirm that this common interest community is onewhere you want to make your home. (MORE)
Can owners in a 6 unit condo legally vet a new buyer to weed out any potential trouble such as excessive noise and partying?
Vetting new buyers is a task afforded to co-ops and co-op boards.It is not legal for condominiums or home owner associations to'vet' potential buyers.
Your real estate is part of an association with a legal obligationfor the board to 'protect, preserve and maintain' the collectiveasset. Your assessments pay for 'someone else' to handle repairs tocommon areas, so you are relieved of many of the maintenance issuesthat face single-home owners. Often,… a community of neighbors canbe built, because you are all co-investors. (MORE)