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Yes. It is common for a Master Deed or Trust of a condominium to reserve the right of first refusal when any owner decides to sell their unit. That means the board must be given first priority to purchase the unit. Read through your copy of the Master Deed and Trust looking for any "right of first refusal language".
What else can I help you with?
Can a Board of Directors block a sale of a condominium unit?
You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.
What do you mean by adult franchise?
The right exercise by which people elect their representatives is called to right the vote or right to franchise
What are 3 examples of integrity?
doing the right thing at the right time being honest
What do you mean by entrepreneurial characteristic?
It means having the key factors of a successful entrepreneur; for example, "resilience" is a characteristic of a successful entrepreneur, because resilience means keeping your head up and not giving up. This is a vital characteristic for a successful entrepreneur. Another example is self-confidence; this is another key factor of a successful entrepreneur because an entrepreneur needs to have confidence in themselves that their business/company can be successful, and they need to have the right attitude.
Right of lessee can be described as?
encumber
What if the condo owner does not keep condo in good condition?
Usually the governing documents for a condominium association detail the level to which a unit owner must maintain the interior of a unit. The board may enforce the covenants of the community by sending a notice to a condominium owner whose upkeep of his or her unit is in violation with the governing documents.
In California do condo owners have the right to have a dog?
Regardless of the state where you live, your governing documents determine the pet policies for the community.Read them to discover the pet policies for your condominium association.
What is the use of Condo Associations?
Their role essentially shapes the quality of life within the condominium, as they make key decisions pertaining to the aesthetics, maintenance, and overall functioning of the community. At Daisy Property Management, I've seen just how much a dedicated and efficient condo association can enhance the living experience within a condominium community.
Can a condominium put a lien in your condo?
Yes, a condominium can put a lien on your condo. The condominium depends on your payments to keep up the common areas. As a result, it has the right to collect its fees plus interest when you sell it if you do not pay your assessments and a lien is filed. As well, the association may be able to sell your unit in order to collect these unpaid assessments. Read your governing documents to remind yourself of your agreement to pay assessments and of your association's responsibility to pursue you until the assessments are paid. When you do not pay your assessments, you're essentially asking your neighbors to pay your bills.
What does IRS require if mother and daughter are joint tenants of condo and mother dies with a will and condo is sold?
More information is needed to answer your question. Was the Mother still living when the Condo was sold? Who inherited the Mothers share of the Condo upon death? What was the selling price of the Condo? Was it sold to an unrelated person?
Can a Board of Directors block a sale of a condominium unit?
You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.You need to review the governing documents for the particular condominium project. There may be certain provisions that give the board the right of first refusal or some other right that would empower it to block a sale if certain conditions had not been met.
How to register a condo project with the right to sell fee simple deed in Pennsylvania?
Your condominium-savvy attorney can help you put together a public offering statement that includes this option, if it is allowed under Pennsylvania law.
In California do condo owners have the right to review condo bills and financial statements monthly?
The only answer to your question is to review your governing documents. You should be able to find your answer in the sections that discuss finances.As well, you may want to review the California Condominium Law, so that you understand your rights.Informally, you should absolutely have this right. You can contact the property manager, and the board of directors and demand these rights. If you are denied, you can consider hiring an attorney and making a formal request to clarify your rights.
Can using the wrong detergent in a condo cause water leaks below?
"Wrong" implies that there is a standard. It is rare that a condominium community would define a "right" detergent for use in its facility. Classically, detergent does not cause plumbing leaks.
Can a board evict you out of a condo your mother owns?
The condominium board is chartered with some combination of tasks that cover security, maintenance and preservation of real estate assets that all owners own in common. In the governing documents, the board may have the right to evict a resident who violates the regulations, the covenants, the conditions, or the rules. Further, the board may evict a resident in preparation for selling a unit for unpaid assessments. Your mother's ownership does not guarantee your residency, but it does give you the opportunity to live in the community if you follow and abide by the governing documents.
Difference between an option and a first right of refusal?
Option is just that i.e. you have the option to buy this piece of property if you want to. A first right of refusal (often found in condominium bylaws) would give the condo association the "first right" to buy or refuse to buy a property that went up for sale in the condo devcelopment. Known as a first right of refusal. This was often looked upon as prejudicial as they could buy a property to keep out less desired persons
Is a condo private property?
Each condominium unit is the private property of its owner.The land enclosed within the boundaries of the condominium project or community is private property as regards the general public. No one who does not have an interest in the condominium has the right to use or enter the property.Exceptions would include such people as the owners' agents, employees, invitees, municipal workers, utility worker, postal workers, repair personnel, etc.
