This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Condominium Act Form 5 In Utah
Instant download
Description
Free preview
Form popularity
FAQ
Utah law does not require any particular amount of reserves for associations.
To form an HOA in Utah, one must adhere to state-specific statutes, primarily the Utah inium Ownership Act and the Utah Community Association Act. The formation process begins with recording a declaration in the county where the property is located.
In Utah, two key laws govern homeowners associations ("HOAs") and inium owners associations ("COAs"). The inium Act, Utah Code § 57-8, applies to COAs, and deals with individually owned units supported by collectively held facilities and areas, such as iniums or townhomes.
Utah Code Title 57 Chapter 8 is the inium Ownership Act authored by Keith Romney and passed into law in 1960. The Act allowed individuals to have private ownership of property in a collective unit. Although authored in 1960, the Act wasn't officially adopted until 1963.
Sale of property and common areas and facilities. the sale, conveyance, transfer, or other disposition of the portion of the common areas and facilities results in a person other than the association or a unit owner owning the portion of the common areas and facilities.
The dissolution process is done with Utah Division of Corporations following this general process: Under Utah Code § 16-6a et seq., HOAs/COAs that are registered nonprofit corporations may be dissolved following Utah Code § 16-1 et seq.
Utah law does not require any particular amount of reserves for associations.
Utah law does not require any particular amount of reserves for associations.
Utah HOAs are primarily governed by the Utah Revised Nonprofit Corporation Act as well as specific legislation pertaining to iniums and community associations. These state laws are designed to work in conjunction with relevant federal laws to ensure that HOAs operate within the legal framework.
More info
This document is meant to serve as a resource for compliance purposes and frequently asked questions. Following is a list of items covered:.Legislature in 1963, providing a unique project development type. Thank you for your interest in submitting a Subdivision: Preliminary Condominium Plat application. Informal probate is the process for asking the court to appoint a personal representative for a decedent's estate without a hearing. FHA insures condominium loans for up to 30-year terms to purchase or refinance a unit in an FHA-approved condominium project. Utah Code § 57-8-58. When a condominium declaration is filed, all interest owners in a condominium project become subject to the Act. 1. Public Hearing Required. No condominium conversion project shall be approved without a public hearing.