Declaration Condominium Real Estate Statement With Multiple Conditions
Description
How to fill out Master Deed Declaration Of Condominium?
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FAQ
A Condominium Declaration, also sometimes known as Master Deed, is a fundamental document that establishes the existence of and further governs the use and maintenance of a condominium property.
The Declaration is the Big Dog or the Master of the documents, if you will. It is the document that, among other things, establishes the association, contains the use restrictions, the maintenance requirements, and defines the common elements. The Bylaws set up the corporation and how it is to be run.
The Law of Subdivision and Condominium Conversion In California, two state laws govern subdivision of real estate: The Subdivided Lands Act, and The Subdivision Map Act.
This could include structural damage, plumbing problems, electrical issues, water damage, mold growth, and other hidden hazards. It's important to thoroughly inspect any potential property before purchase to ensure it meets your needs and expectations.
A description of the units, the way the condominium is governed and how the dues will be assessed; an explanation of repair and maintenance responsibilities and a description of the ownership interest between the condo association and the owner.