Georgia Master Deed Declaration of Condominium
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How to fill out Master Deed Declaration Of Condominium?
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FAQ
Master deed. This is a deed filed by a condominium owner to record the property and allow sales of the individual condos and use of communal areas by owners.
Sections 85 and 86 of the Condominium Act, 1998 (the ?Act?) set out a condominium corporation's power and authority to have, register and enforce a lien against a unit owner's property on account of non payment of common expense contributions without any form of judicial process.
O.C.G.A § 44-3-107 states, in part: ?(a) The association shall obtain: (1) A property insurance policy or policies affording fire and extended coverage insurance for and in an amount consonant with the full insurable replacement cost, less deductibles, of all buildings and structures within the condominium.?
: a deed of conveyance executed by a master in chancery in pursuance of an order of the court commanding one of the parties to make the conveyance or the master to do it in his name.
A condominium shall come into existence upon the recordation of the declaration pursuant to this article and of the plats and plans required by Code Section 44-3-83. The declaration shall be duly executed by or on behalf of all of the owners and lessees of the submitted property. Ga.
Section 83(1) of the Act requires landlords to notify the condo corporation of the rental and provide a copy of the lease within 10 days of signing.
What is the Georgia Condominium Act? The Georgia Condominium Act (GCA) regulates all condominiums that were created after July 1, 1975 and any Georgia Apartment Ownership Act (AOA) that submitted to the GCA.
If insurance to cover property damage caused by water has not been obtained by the condominium association, or if the water damage does not constitute a ?covered claim? by the insurance company, absent negligence and/or an intentional act, each party is responsible to repair and replace the Unit and/or the Common ...