This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.
The Massachusetts Supplemental Declaration of Pooled Unit is a legal document that is used in real estate transactions involving condominiums or housing developments with shared amenities or common areas. This declaration is typically prepared by the developer or the homeowners' association to outline and govern the rules, rights, and responsibilities of unit owners within the development. Keywords: Massachusetts, Supplemental Declaration, Pooled Unit, real estate, condominiums, housing development, shared amenities, common areas, developer, homeowners' association, rules, rights, responsibilities. There are several types of Massachusetts Supplemental Declarations of Pooled Unit that may exist, depending on the specific purpose or type of development: 1. Residential Condominiums: This type of Supplemental Declaration is typically used for residential complexes that consist of individual units owned by different individuals but share common areas, such as parking lots, hallways, and recreation facilities. It outlines the rights and responsibilities of each unit owner, including restrictions on use, maintenance, and financial obligations. 2. Commercial Condominiums: This type of Supplemental Declaration is applicable to condominium developments primarily used for commercial purposes, such as office buildings, shopping centers, or mixed-use developments. It regulates the use, maintenance, and management of shared common areas, as well as any additional provisions specific to commercial operations. 3. Cooperative Housing Developments: In some cases, a Supplemental Declaration may be used in cooperative housing developments. Unlike condominiums where individuals own their units, a cooperative consists of a corporation or association that owns the entire development. Each member of the cooperative has the right to occupy a specific unit and shares ownership of the common areas. The Supplemental Declaration outlines the rights and obligations of the cooperative members, including occupancy rules and financial responsibilities. 4. Vacation or Resort Properties: Some Supplemental Declarations are created specifically for vacation or resort properties, where individuals or families own units primarily used for recreational purposes. These declarations may have additional provisions related to rental agreements, usage restrictions, and amenities typically found in vacation properties, such as golf courses, pools, or private beaches. 5. Mixed-Use Developments: When a development consists of both residential and commercial units, the Supplemental Declaration must address the specific rights, obligations, and restrictions applicable to each type of unit. It ensures that the advantages and limitations are clearly outlined for the different types of unit owners, preventing any conflicts or misunderstandings. Overall, the Massachusetts Supplemental Declaration of Pooled Unit is a critical legal document that governs the operation and management of shared properties within condominium or housing developments. It provides clarity and guidance to unit owners, ensuring a harmonious living or working environment and protecting the value of the properties involved.
