This form is a Master Deed. This Master Deed is executed by a developer pursuant to the provisions of the Condominium Act. The deed contains a legal description of the project and the responsibilities of the co-owner.
Condominium Common Element For All Living Things In Michigan
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AN ACT relative to iniums and inium projects; to prescribe powers and duties of the administrator; to provide certain protections for certain tenants, senior citizens, and persons with disabilities relating to conversion inium projects; to provide for escrow arrangements; to provide an exemption from ...
Section 57 of the Act provides that all books, records, contracts, and financial statements concerning the administration and operation of the inium project shall be available for examination by any of the co-owners at convenient times.
Common Elements of the inium Corporation are the land and structures in the inium Corporation other than the units themselves, such as the exterior landscaped areas, recreational facilities, parking garage, hallways, elevators, corridors, public washrooms, lobby areas, driveways, garbage rooms, electrical ...
Sec. 47. (1) Subject to the prohibitions and restrictions in the inium documents, a co-owner may make improvements or alterations within a inium unit that do not impair the structural integrity of a structure or otherwise lessen the support of a portion of the inium project.
The inium documents include the master deed, inium subdivision plan, bylaws for the inium project, and any other documents referred to in the master deed or bylaws. In addition, the developer is required to provide a disclosure statement.
Maintenance, repair, and replacement of a limited common element is usually the responsibility of the association except to the extent the declaration shifts that duty to the unit owner.
The dissolution of a homeowners association in Michigan necessitates a formal resolution, approval from a majority of members, and adherence to specific procedures set forth in the Michigan Nonprofit Corporation Act.
Sec. 67. (1) A change in a inium project shall be reflected in an amendment to the appropriate inium document. An amendment to the inium document is subject to sections 90, 90a, and 91.
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Michigan law imposes a duty on a developer to construct the common elements in a good and workmanlike manner. (4) A master deed shall describe in detail all general and limited common elements.A limited common element is an aspect of a condominium unit that remains the property of the condominium community instead of the tenant. âť– "Care-free living," association may be assigned all common element responsibility. âť– Assessment-conscious, co-owners should be assigned more. This article explores the basics of hoarding and some practical steps the condominium association or property manager may take to alleviate the problem. All Co-Owners in the Condominium Project and all persons using or entering upon or acquiring any interest in any Units therein or the Common Elements thereof. Key among these is the Michigan Condominium Act. Such an amendment includes a modification of the types and sizes of unsold condominium units and their appurtenant limited common elements. Significant Court of Appeals victory confirms developers who drag their feet on developing a condominium in Michigan may lose all development rights.