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'Legal value' is subjective, depending on who's defining the phrase.
Both the By-laws and Rules and Regulations are considered governing documents. Neither can be amended at whim.
The association's legal counsel can advise the board as to the leverage weight of any governing documents insofar as enforcement is concerned.
What else can I help you with?
Can I get an estimated value of Condo?
You can get an estimated value of a condo by comparing other homes that were on sale in order to find a reasonable price for the condo.
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.
How much should I be paying for condo insurance?
The value of your insurance depends upon the value of your condo. The important thing is that you have enough insurance to replace the condo. If you got the condo for a low price many years ago you can't insure it for that because you'd not be able to get another to replace if it were destroyed. The cost of the insurance on yor condo is based on several factors. In some cases your condo association will dictate the amount of coverage you must have.
What is the Median house Condo value in the US?
The median house condo value in the US varies greatly with the location. In some areas the median value is about 170,000 dollars while in large cities the value can be well over 500,000 dollars.
How much the value of condo unit after 5 years?
Your answer depends on the local market. You can pay an appraiser to value your unit.
What is the annual property tax on a condo in new orleans, la that is priced at $280K?
The property tax on a condo in new orleans, la would be 4% of the value of the properrty
Can a Property appraiser assess the value of a condo higher than what it was purchased for?
Yes, a property appraiser can assess the value of a condo higher than what it was purchased for. The appraiser considers various factors such as location, market conditions, upgrades, and comparable sales data to determine the current value of the property. If these factors indicate that the condo's value has increased since its purchase, the appraiser may assess it at a higher value.
How do you figure annual increase in market value of condo at 2 percent?
-- To get next year's value, multiply this year's value by 1.02 -- Then, to get the amount of the increase, subtract this year's value from the result.
What factors should I consider when buying a condo for investment purposes?
When buying a condo for investment, consider factors such as location, market trends, potential rental income, HOA fees, property management, and resale value.
Can condo association remove tree because tree block satellite TVsignal?
Your answer depends on who owns the tree. If the tree is an association asset, and the board has decided that its value is exceeded by the value of a satellite TV signal, then removing the tree is a legal -- although questionable by some -- action. If the tree is not owned by the association, then the association cannot legally remove the tree.
How to Determine What Type Of Condo Insurance to Buy?
Condo insurance is not the same as insurance on conventional homes or renters. Condo owners need to ensure that their policies cover all their possessions that are not covered by the Condo Association’s insurance policy. By reading the fine print in the purchase agreement and the insurance policy, a condo owner can determine exactly what type of insurance policy will cover what is not covered by the collective insurance already provided. The condo association will normally collect dues from owners to cover common areas of the complex and sometime installations. The association’s bylaws will state exactly what is covered under the association’s policy. The association’s policy may have a deductible, which is usually divided equally among the unit owners. Collectively, owners may have a “bare walls” policy which covers all real property from the exterior framing inward, but does not cover fixtures or installations within a condo unit. Another type of policy referred to as an “all in” policy covers fixtures and installations, along with the structure and any common areas. The owner needs to know if the policy is cash value, which covers the cost of replacing the items minus depreciation, or if it covers the full replacement cost. If the association has a bare wall policy, the owner must buy insurance to cover features such as countertops, bathroom and kitchen fixtures, flooring and personal items. With an all in policy, the owner may only need to cover personal items. Most insurance companies offer a special unit owners policy, but to save money and ensure that all items are covered, the condo owner needs to determine what he owns and what is covered by the association’s policy. Condo owners are typically responsible for insuring just their property, but the rules differ from complex to complex, and it's important to ask the right questions to ensure you have proper insurance coverage. Usually, condo owners are not responsible for cutting the grass or shoveling ice from the front walk, but they must insure that the proper condo insurance is in place to protect them from any lawsuits related to these things.
What are the rules in adding real numbers?
Rules: Unlike SignsSubtract the absolute value of the number and copy the sign of the number with greater absolute value.
