Condominium Unit Owner Rights And Responsibilities
Description
How to fill out Notice Of Lien To A Condominium Unit Owner For Unpaid Assessment Fees?
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FAQ
Owners of condos receive a deed for their unit just like if they bought a house. They also own their unit in fee simple, which is the least restrictive form of real estate ownership recognized by law.
Under Florida law, the board or its committees set assessments for residents, hire personnel, maintain common areas, purchase insurance, obtain accounting and legal services and establish house rules.
A condominium, or condo, is an individually owned unit in a complex or building of units. A condo owner owns the space inside their condo and shares ownership interest in the community property, such as the floor, stairwells, and exterior areas.
Condo owners are responsible for paying regular assessments or maintenance fees. These cover the costs of common area maintenance, repairs, insurance, and other shared expenses. These assessments are typically determined based on the unit's size and shared ownership percentage.
The association is responsible for the maintenance and replacement of all general common elements, and in the case of condos, there are many. General common elements, which are used by every unit owner, include sidewalks, elevators, roofs, lobbies and common hallways, and community amenities like pools.