US Legal Forms
Condominium Master Deed - Residential Condo Development

Condominium Common Element With Bright Red Blood In Michigan

Category:

Real Estate - Condominiums

State:

Multi-State

Control #:

US-00454

Format:

Instant download

Description

The Master Deed is a crucial legal document establishing a condominium project in Michigan, including provisions related to common elements and the responsibilities of co-owners. It delineates the common elements of the project, which include roads, land, utility lines, and recreational areas, as well as their maintenance responsibilities. The document outlines the distinct rights of individual unit owners concerning exclusive and limited common elements, ensuring each co-owner has access to shared amenities while highlighting their personal responsibilities. This Master Deed is especially useful for legal professionals such as attorneys, paralegals, and legal assistants, as it provides necessary guidance for navigating homeowner responsibilities and potential disputes related to property usage. It serves as a foundation for developers, co-owners, and associations to understand their rights and obligations while ensuring compliance with state regulations. Filling out the deed may involve specifying individual unit characteristics, percentage values, and ensuring adherence to local zoning laws and regulations. Overall, it captures essential elements crucial for the effective management of condominium properties, enabling all parties involved to operate within a clear legal framework.

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FAQ

Sec. 84a. (1) The developer shall provide copies of all of the following documents to a prospective purchaser of a inium unit, other than a business inium unit: (a) The recorded master deed.

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.

Section 112 requires any co-owner desiring to lease out a unit to disclose that fact in writing to the association at least 10 days before presenting a lease or otherwise agreeing to grant possession of a unit to a tenant, and to supply the association with an exact copy of the lease form to be used to enable the ...

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.

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.

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.

A common element is defined as all portions of the property except the units. Examples of common elements include fitness centers, elevators, lobbies, walkways, lighting in common hallways, garbage collection areas, swimming pools, landscaping, club houses, and more.