Illinois Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
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How to fill out Master Deed For Plan Of Ownership For Condominium With Multiple Residential Buildings?
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FAQ
Sec. 33. Limitations on the use of smoking cannabis. The condominium instruments of an association may prohibit or limit the smoking of cannabis, as the term ?smoking? is defined in the Cannabis Regulation and Tax Act, within a unit owner's unit. Recreational Marijuana in Condominium Associations Guide cai-illinois.org ? recreational-marijuana-in-c... cai-illinois.org ? recreational-marijuana-in-c...
Specifically, Section 18.4 of the Illinois Condominium Property Act states that a condominium board must "exercise the care required of a fiduciary of the unit owners." This duty is also set out in the Illinois General Not for Profit Corporation Act.
In Illinois, Section 22.1(a) of the Illinois Condominium Property Act describes the information that the owner must obtain from the board for inspection by a prospective purchaser, upon demand, in the event of any resale of a condominium unit by a unit owner other than the developer. 22.1 Disclosures in Illinois Community Associations | The KSN Blog ksnlaw.com ? blog ? 221-disclosures-illinois... ksnlaw.com ? blog ? 221-disclosures-illinois...
HB 5246 ? Document request, deadlines, and fees Starting January 1, 2023, House Bill 5246 will reduce the timeframe for condominium associations in Illinois to provide certain disclosures under Section 22.1 of the Illinois Condominium Property Act (unit resales) from 30 to 10 business days. 2023 Illinois Community Association Legislative Updates | The KSN Blog ksnlaw.com ? blog ? 2023-illinois-communi... ksnlaw.com ? blog ? 2023-illinois-communi...
The Act at Section 2 (e) defines common elements. It states: "2 (e) "Common Elements" means all portions of the property except the units, including limited common elements unless otherwise specified."
General amendments to condominium instruments are governed by Section 27 of the Illinois Condominium Property Act, which states that an affirmative vote of 2/3 of voting unit owners must approve amendments, unless the condominium instruments provide for some other majority vote somewhere between 50% and 75%.