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Read your governing documents to determine which real estate assets you own, and which are owned in common with all other owners.
Generally, there is a boundary inside your unit where your ownership begins: at the paint, at the back of the wallboard, at the studs, or whatever your governing documents dictates.
Everything else in the real estate asset base is owned in common with all other owners, including limited common areas which are dedicated for use by fewer than all the owners.
Wiki User
∙ 13y ago
Wiki User
∙ 8y agoThere is no standard.
However, if the association's board has defined limited common elements, these are elements that the association owns -- all owners own them together, but are available for use by less than all owners.
Wiki User
∙ 10y agoThere is no standard. Read your governing documents -- boundaries section -- to determine which are common elements and which are individually owned.
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What are some examples of properties in elements?
Examples: atomic number, number of isotopes, atomic weight, density, position in the periodic table, hardness, electrical conductivity, thermal conductivity, color, odor, crystallographic system etc.
In what instances would a condo assn not be responsible for attic mold because of lack of ventilation?
In every jurisdiction I am aware of, a condo association is made responsible for proper care and maintenance of all "common elements". So the first question is whether the attics are common elements (or limited common elements). If they are common elements the association is usually responsible, and if limited common elements you have to look at the condominium declaration because it may assign primary obligation, but will usually say the association if it's more than one owner that's affected or could be affected. If the builder is still on the hook, then the builder is responsible to the association. if the lack of ventilation was caused by the unit owner (blocking up a vent, say) the unit owner would be responsible to the association for damaging the common elements. In any event every condominium association should have its own legal counsel, and I suggest the association engages counsel for this purpose.
Are back porches a limited common area in a condo?
There is no standard. Read your governing documents to determine the ownership status of a back porch.
Who is responsible for the upkeep of condo decks...the homeowner or the association?
You can find the answer you want in your governing documents.Usually decks are called limited common area, and your assessments pay for the maintenance, protection and preservation of all real estate assets owned in common, including limited common areas.
When renting a condo can you claim all of the common elements for taxation purpose in the province of Ontario?
Your question is best answered by your tax counselor. However, if you own the unit, your ownership percentage is represented in the assessments you pay, and your tax deduction may be limited to the real estate asset that you own.
Can an owner opt out of paying condo fees for a part of the service supplied by the board?
In a few words, generally no. You can read your governing documents to determine what you own in common with all other owners, including common area, common elements and limited common areas/ elements. As an owner you are obligated by your governing documents to pay for the preservation, protection, and maintenance -- including improvements -- of all real estate elements that you own in common with all other owners -- by way of your assessments. If you do not understand how you are responsible to pay a full assessment for the services supplied to your community and its assets, by way of your board of directors, you can discuss it with your board or with your association manager.
In Virginia is an outdoor patio consider part of the condo or is it common grounds?
Read your governing documents. Look in the index for Unit Boundaries.Also, look for the definition of limited common areas, which may cover your outdoor patio.
You buy condo paid all cash Now company files mechanics lien for work done on the building for a subcontractor who needed to finish his job Aren't you protected?
Regardless of how you paid for your condominium, what you purchased includes the exterior of the building and all the other common elements and limited common elements of the community that all owners own in common.Your board of directors and the management company for your community, if you have one, can help you understand your liability as to satisfying this lien.
Who is responsible for paying for County Inspection Fees when a condo association replaces a garage door?
It is reasonable that the owner of the garage door, who commissioned the replacement, is liable for the inspection. Read your governing documents to determine who owns the garage door. Some individual garage doors are limited common elements, and are still owned by the association.
Is an entry door to a condominium unit considered a common element?
It depends on your condominium governing documents, where you can find a list of assets owned as limited common elements, meaning assets owned in common for the benefit of a single or a single group of owners. Generally, in a high-rise condominium, for example, unit entry doors are considered limited common elements.
IF my upstairs condo is untouched by a flood but the building's ground floor is damaged so badly that the entire building is unlivable would my flood insurance protect me?
Let's first review what a condo is. A condominium is an arrangement in which you own your own living space outright (your condo apartment), and you share joint ownership (with all the other condo owners) of the common spaces. There will be (at least) two insurance policies in effect: (1) the condo association policy, which covers (at least) the common areas, and (2) your own personal policy, which covers the contents of your condo apartment, and depending upon your coverage, may also cover the internal structural elements (walls, floors, ceilings, fixtures, countertops, etc.) of your specific condo unit. Since there is no damage to your condo unit, your personal condo insurance will probably not apply, even if you have flood insurance. So, the answer to your question depends upon what type of policy your condo association holds. You should therefore ask your condo association.
Where would one find reviews for Vail Condo rentals?
One can find reviews for Vail Condo rentals through many online sites and locations through blogs and consumer reviews including but not limited to the official Vail Condo rentals website.
