Condominiums

Depending on the state where you live, there are official documents that must be prepared and presented to the association from the developer at the end of the 'declarant control period'.

As well, the public offering statement given to each buyer of a new unit by the developer clearly spells out the several scenarios that can mark the end of the period. It may be some number of years after the first sale; some number of years without adding new units and so forth.

Primarily, it is imperative that the developer turn over plans, warranties, designs, and so forth, to the association, so the association can maintain its real estate assets.

This is an official step that is best taken with the guidance and leadership of counsel.

This right is documented in your governing documents, because each situation is unique.

Essentially, it means that should you decide to sell your unit, the association reserves the right to purchase it, and if it refuses -- by right of first refusal -- to buy it, you can sell it on the open market.

Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared.

Read more, below.

Read your governing documents to determine which owner behaviours violate the agreements that the owner signed when the owner purchased a unit.

'Undesireable' is a judgmental word that requires more precise definition. 'Drug dealer', 'non-payer of assessments', 'brothel keeper', 'noisy party host' each defines a different level of 'undesireable'.

Usually governing documents provide processes and techniques for notifying an owner who behaves in ways that are not allowed by the governing documents. Remedies may include fines, which can become automatic liens on the owner's title.

The foreclosure route is generally the only route for removing an owner from a community, and money arrears may be the easiest route to foreclosure. (If illegal activity is taking place, notify the local authorities.)

Attached condominiums are attached to something: a garage or another condominium.

A detached condominium is not attached to anything.

Logically, a 'legal advantage' usually implies that some 'illegal' concern drives the decision about which to buy.

There's probably no 'legal' advantage of owning either; but there may be tax advantages.

Since you've added 'Forests' as a category to this question, one might assume that you want to harvest trees from property you own.

Cutting trees down or growing them is legal anywhere on the property you own upon which your home sits.

In a condominium community, you request permission from the board to cut trees down and may be required to request permission to plant them.

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.

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.

Same way as the first floor. The drain has nothing to do with the way it is installed,

your just not adding a drain. Which is a real bad idea and should not be done.

The answer is $2,750

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.

This style of ownership is best described as community real estate assets owned in common by all owners, with owners also owning individual units within the association.

Garden condominium is a descriptive term used by developers and real estate agents to describe a community of condominiums that features gardens.

The gardens can either be owned in common with all other owners, or can be owned individually, with the responsibility for the garden belonging to the unit owner.

Read the brochure and other descriptive materials to better understand the particular development or community that uses this term to describe its amenities.

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, selling 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.

It all depends. Legally, a condominium is simply a form of real estate ownership, regardless of its structure. Marinas can be condominiums, and in fact, the continent of Antarctica is listed as a condominium. As well, commercial properties can be condominiums.

The answer depends on who's 'looking' at the property. A bank, for example, may acknowledge it as a condominium, and thereby apply certain rental percentage limits on the association before giving a loan to purchase the property.

As an owner, you can consider it a multi-family dwelling, since you have neighbors 'a wall' away from your home. Your insurance, for example, should dovetail with the master insurance policy that covers real estate you own in common with other owners. As well, you are required to abide by the CC&Rs contained in the governing documents, and pay monthly assessments.

As a public utility, you can define and categorize a condominium any way you want to -- apparently. In some small, rural communities, public utilities choose to regard condominiums as 'single family homes' for the purposes of exacting higher sewer and water fees from these owners than it offers apartment owners, who may pay a lower rate.

If yours is a dwelling that looks like a single family home, but all the land under all the homes in the development is owned in common with all other owners, you may live in your home as though it were a single family home, but you may also have restrictions as to how you paint or decorate the exterior, and you may also have CC&Rs that you must abide by.

Any owner of a condominium is obligated to read and understand the governing documents for the association where the owner owns real estate property.

Governing documents cover reserve requirements, and many state laws also cover reserve studies and reserve contribution percentages. (Reserves are used to replace common area real estate assets at the ends of their useful lives.)

As well, associations are required to carry master insurance policies.

If a building collapses in a matter of years from non-maintenance, certainly an owner would have a cause of action against the association's board of directors.

More to the point, however, an owner must understand how their real estate assets are being maintained and preserved: whether it's a single family home or a condominium.

A local realtor may be able to help you answer the question, whether all the stories are residential, some commercial, some for infrastructure and so forth.

Yes, you'll need one.

The variables will be the acquisition costs of the land, the expense of building the building(s) containing the units, and the market for what you build where you built it.

To be more precise, you need a professional looking business plan for your condominium. I can recommend you to use ogscapital.com service for this purpose. They are very professional guys!

A condo is a privately owned unit in a multi unit building that includes common areas, facilities and various amenities. It is considered real property.

A penthouse is a posh apartment at the top of a building typically differentiated by luxury features and privacy. It can be privately owned or a rental.

Read your governing documents regarding mandatory audits. Depending on the size of the community in number of units or annual income from assessments, the membership may be able to vote against having an annual audit.

Also, review the Maine state law governing condominiums and non-profit corporations -- if your association uses that legal construct -- and determine what audit is required.

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.

You can find an example by contacting an attorney in the District of Columbia.

As well, your governing documents may provide details you need to include in a lien, meaning that it is an original legal document and requires crafting by an attorney.

A stipulation of settlement indicates that the parties to a legal dispute have arrived at a formal agreement resolving their dispute. If you are one of those parties and the other side has presented a stipulation of settlement and you don't agree then you will need to fight it out in court. Your best option is to engage the services of an attorney and present the attorney with the facts, so that the attorney can represent you and your interests in the settlement.

You can go to the local hall of records and find the name of the current owner(s). Locating the owner(s), then, requires that you discover where to locate the person(s) you seek, by name(s).