Agreement Condominium Document Form
Category:
State:
Multi-State
Control #:
US-02391BG
Format:
Word;
PDF;
Rich Text
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Description
The term "condominium" refers to a type of group ownership of multiunit property in which each member of the group has title to a specific part of the improvements to the real property, and an undivided interest with the whole group in the common areas and facilities. Each condominium owner in a multiunit structure has title to the "family unit" in fee simple, while holding an undivided interest in stairways, halls, lobbies, doorways, and other common areas and facilities.
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Adoption and Issuance. In our area, purchasers will receive detailed information on the condo association in the form of a resale package, which is also known as the condo documents.The Seller must complete this form, attach the relevant documentation and present it to the Buyer. This form and the documentation become part of the Contract. (1) This section shall not apply to a business condominium unit. Of a contract for the sale or lease of any interest in a condominium unit.