Connecticut Clauses Relating to Venture Ownership Interests
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A unit owner is not liable to a purchaser for the failure or delay of the association to provide the certificate and documents in a timely manner, but the purchase contract is voidable by the purchaser until (1) the expiration of five days, excluding Saturdays, Sundays and legal holidays, after the certificate and ...
Common-interest communities are also known as common-interest developments or CIDs. CIDs are comprised of individually owned units with an undivided interest in common areas. A subdivision developer creates a CID by recording a subdivision plat and a set of legal governing documents.
The Uniform Common Interest Ownership Act governs the formation, management, and termination of common interest communities, including condominiums, homeowner associations, and real estate cooperatives. The 2021 amendments to the Act update it to address recent legal and technological developments.
The Colorado Common Interest Ownership Act (CCIOA), CO Rev. Stat. § 38-33.3-101, et. seq., governs the formation, management, powers, and operation of all common interest communities in Colorado, regardless of when those communities were created.
The Connecticut Common Interest Ownership Act oversees the formation, alteration, termination, sale, and management of common interest communities established after January 1, 1984. This includes homeowners associations, condominiums, and cooperatives.
Common Interest Ownership Act is a Connecticut General Statute that governs all Condominiums and Cooperative Associations. Otherwise known as CIOA, this statute protects the unit owners and guides the board of directors on how the associations must be governed.