Puerto Rico Master Deed Declaration of Condominium
Description
How to fill out Master Deed Declaration Of Condominium?
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FAQ
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.
Condo owners can be described as homeowners. A condo is a living residence that requires mortgage payments, taxes, and insurance.
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.
