Minnesota Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings

State:
Multi-State
Control #:
US-13371BG
Format:
Word; 
Rich Text
Instant download

Description

This form is a master deed for plan of ownership for a condominium with multiple residential buildings. A condominium is a form of housing where an individual own a space, but there is undivided interest over common facilities.
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  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings
  • Preview Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings

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FAQ

The Colorado Common Interest Ownership Act (CCIOA) was established in 1992 to form a clear, comprehensive, and uniform framework for the creation and operation of common interest communities.

Associations are operated and governed by an elected board of directors. The powers, duties, and responsibilities of the board of directors can be found in the governing documents, the Minnesota Nonprofit Corporation Act, and/or the Minnesota Common Interest Ownership Act.

The Minnesota Common Interest Ownership Act, or MCIOA, governs the legal standing and obligations of townhome associations, primarily condominium associations, created on or after June 1, 1994. Townhome associations created before this date must opt into the MCIOA.

Maintenance of limited common elements usually remains the responsibility of the HOA unless otherwise specified in the declaration. Much of this is paid for through the collection of monthly condominium fees from unit owners.

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.

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Minnesota Master Deed for Plan of Ownership for Condominium with Multiple Residential Buildings