Condominium Real Estate Definition In Pima
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Arizona Planned Communities Act This act governs homeowners associations in Arizona and details a number of matters pertaining to planned communities, such as assessment collection limitations, the maintenance of a homeowner's association records, the management of such entities, and the requirements for meetings.
33-1243 - Board of directors and officers; conflict; powers; limitations; removal; annual audit; applicability. A. Except as provided in the declaration, the bylaws, subsection B of this section or other provisions of this chapter, the board of directors may act in all instances on behalf of the association.
Etymology. inium is an invented Latin word formed by adding the prefix con- 'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'.
The Arizona inium Act is a set of statutes enacted by the Arizona legislature that applies to the governance and operation of iniums and inium associations in the state of Arizona.
ACT is the statewide high school achievement test for Arizona students in the Grade 11 cohort. ACT will be administered to students in Cohort 2026 in Spring 2025.
Inium Rules means the Rules for the use of the Premises that are adopted from time to time by the Board of Directors. inium Rules . Your unit is confirmed with the understanding that you will adhere to the rules and regulations set by individual inium or homeowner associations.
A inium, often shortened to "condo," is a form of housing tenure where a specific unit or apartment is individually owned, while the common areas of the property are jointly owned by all the condo owners within the complex.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas. (informal condo) an apartment in a inium.
The main difference comes down to ownership. iniums are owned by individuals and rented out privately (this is your typical landlord). In contrast, apartments are generally owned by property management companies who rent and manage all the units, creating a more standard approach and leasing process.
The primary difference between the two is that while flats are a part of housing societies, apartments belong to single buildings. All spaces essentially remain the same; only their linguistic usage and location derive the differences.
