This form is a Master Deed. This Master Deed is executed by a developer pursuant to the provisions of the Condominium Act. The deed contains a legal description of the project and the responsibilities of the co-owner.
Kansas Condominium Master Deed - Residential Condo Development
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FAQ
A condominium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but share common spaces, amenities, and other resources. They pay condo fees, which cover maintenance costs, amenities, and the upkeep of common spaces.
Owners of single-family homes purchase the home structure and the land it sits on, while condo owners own just the unit they live in, not the larger building or the land on which it's built. Generally, with a condo, the surrounding exterior space is shared among the condo owners.
An apartment building is a building that consists of several apartments. If there are only two, it is usually called a duplex. An apartment complex is a group of several apartment buildings, usually under the same management. A condominium is an apartment that is owned by an individual or family.
The biggest difference between a condo and an apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo can be similar in structure to an apartment ? usually a unit within a larger residential building ? but condos are owned instead of rented.
This could include structural damage, plumbing problems, electrical issues, water damage, mold growth, and other hidden hazards. It's important to thoroughly inspect any potential property before purchase to ensure it meets your needs and expectations.
