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.
Pennsylvania Condominium Master Deed - Residential Condo Development
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FAQ
Condominiums in Pennsylvania are governed by the Uniform Condominium Act, 68 Pa. Stat. §§ 3101 to 3414 (the ?UCA?).
Master deed. This is a deed filed by a condominium owner to record the property and allow sales of the individual condos and use of communal areas by owners.
What is needed to create a condominium property? Condominium declaration and master deed.
Condo owners can be described as homeowners. A condo is a living residence that requires mortgage payments, taxes, and insurance.
Pennsylvania Uniform Condominium Act C.S. §§ 3101 to. 3414) was adopted in 1980 to govern the formation and operation of condominiums. Prior to the UCA, condominiums in Pennsylvania were governed by the since-repealed Unit Property Act. By definition, a condominium is a form of real estate ownership.
Condo laws are often called Horizontal property or strata title acts. Owners have Fee simple title but share common elements to which they are tenants in common.
Probably one of the most distinct features of condominium ownership lies in the concept of ?undivided ownership interest? of the common elements. All unit owners as members of the condominium's association share ownership of the common elements.
