The following By-Laws have been adopted to govern the affairs of the project described in the master deed of the owners. The form also contains defintions of the words and terms used in the document.
Pennsylvania Bylaws of Condominium
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Multi-State
Control #:
US-AR-B1039
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Word;
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FAQ
In Pennsylvania, if your home is part of an HOA or COA and you fall behind in assessments: The HOA or COA can get a lien on your home. The association typically can charge you for overdue assessments, late charges, interest, fines, various fees, and collection costs. The association might choose to foreclose its lien.
Initial sale of the units in the communities, the developer/builder hold majority control of the corporation and the owners' association. that control is then turned over to owners as the percentage of property owners exceeds the % of units or lots owned by the developed/builder. 2.
In Pennsylvania, co-ops are governed by the Real Estate Cooperative Act, 68 Pa. Stat. ? 5101 to 5414 (the RECA).
The Philippine Condominium Act allows foreigners to own condo units, as long as 60% of the building is owned by Filipinos. If you want to buy a house, consider a long-term lease agreement with a Filipino landowner.
The statute that regulates condo ownership is called "Condominium Property Act". What is a condominium? A condominium is a building or complex of buildings containing a number of individually owned apartments or houses.
-The condo must be governed by a unit owners' association.
To sum up, the rights of a condominium unit owner are the following: Right of absolute ownership over his unit. Right of exclusive easement of the space of his unit. Right to repair, paint, decorate the interior of his unit.
Parts of a property that are necessary or convenient to the existence, maintenance, and safety of a condominium or are normally in common use by all the condominium residents. Each condominium owner has an undivided ownership interest in the common elements.
A condominium is inside a residential building or community but the unit is privately managed by the individual or landlord of the property. This landlord has no say in the functioning of the larger building or even the plot of land in which his/her property is built upon.
