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Oregon
Limited Warranty Certificate Issued to Owner of Condominium Unit

Oregon Limited Warranty Certificate Issued to Owner of Condominium Unit

Category:

Real Estate - Certificates

State:

Multi-State

Control #:

US-03106BG

Format:

Instant download

Description

This Limited Warranty Certificate has been prepared to comply with the requirements of the federal Magnuson-Mass Warranty-Federal Trade Commission Improvement Act enacted in 1975 (15 U.S.C. Section 2301); certain language is required by regulations promulgated by the Federal Trade Commission (16 C.F.R. Section 701.3).

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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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.

The Oregon Condominium Act requires that the condominium association be organized to serve as a means through which the unit owners may take action with regard to the administration, management and operation of the condominium. Each unit owner is automatically a member of the association.

A condominium (also called a "condo") is a large property complex comprised of individual units, and each unit is owned separately. Ownership usually includes a nonexclusive interest in certain "community property" controlled by the condominium management.

The Oregon Condominium Act governs the creation, conversion, common expenses, apportionment of interest, management, and powers of condominium associations in the state. It also covers voting rights, insurance, association administration, and insurance requirements.

The Oregon Condominium Act is a set of laws that govern the creation, ownership, and operation of condominiums in the state of Oregon. It outlines the rights and responsibilities of condominium owners and developers and provides a framework for the formation of condominium associations.

In sum, the Oregon Planned Community Act provides a comprehensive framework for the formation and operation of planned communities in Oregon. It sets forth the legal rights and obligations of the members, the owners, and the association, and provides for the enforcement of those rights and obligations.

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