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DC Notice Of Condominium Lien For Assessments Due 2020
Get DC Notice Of Condominium Lien For Assessments Due 2020-2024
NOTICE OF CONDOMINIUM LIEN FOR ASSESSMENTS DUE Government of the District of Columbia IN ACCORDANCE with, Title 421903(a) of the District of Columbia Code, THIS IS TO CERTIFYOffice of Tax and Revenue.
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Lien condominium notice FAQ
The DC Condo Act of 1974 is the District level legal compass for association governance and affairs. This Act establishes parameters for practices and creates guidelines and rules for how associations and cooperatives operate in Washington DC.
But in the District of Columbia, a COA is entitled to a super lien over a first mortgage or first deed of trust recorded before the date on which the assessment became delinquent in an amount equal to six months' worth of common expense assessments. (D.C. Code § 42-1903.13(a)(2)).
(5) If the condominium instruments and certificate are furnished to the purchaser on or prior to execution of the contract of sale by the purchaser, the 3 business-day period for review prescribed pursuant to paragraph (2) of this subsection shall commence when the contract is executed by the purchaser.
The DC Condo Act of 1974 is the District level legal compass for association governance and affairs. This Act establishes parameters for practices and creates guidelines and rules for how associations and cooperatives operate in Washington DC.
Assigning par value s to the units is a condominium-only concept. Par value is just a number of points assigned to a unit. Using a par value system can allow for both greater flexibility and simplicity than using the size of the units as the basis for allocation of ownership interests in the common area.
What are the requirements of a condominium association? The Act requires the association of co-owners to keep current copies of the master deed, all amendments to the master deed, and other condominium documents available for review by co- owners, prospective purchasers, and prospective mortgagees.
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