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Noun. : an alteration made to an instrument that adds or deletes any provision or changes the rights and obligations of any party under it.
So starting in 2025, new Florida state law will require condo boards of buildings that are three stories or higher to set aside money to cover the cost of future major repairs, not for cosmetic stuff like new carpet, paint, lobbies, and you know, stuff like that.
The Texas Uniform Condominium Act, Tex. Prop. Code §§ 82.001 et seq. governs all commercial, industrial, residential, and other condominiums created after January 1, 1994.
Instances of material alteration of a cheque: Alteration in Amount Payable. Change in cheque date. Change in Time of Payment. Alteration of Place of Payment. Tearing of the material part of the cheque. Addition of a New Party to the instrument.
Florida courts have construed the phrase ?material alteration or addition? to mean to palpably or perceptively vary or change the form, shape, elements, or specifications of a building from its original design or plan, or existing condition, in such a manner as to appreciably affect or influence its function, use, or ...
It allows buildings that reach 30 years of age after July 1, 2022 but before December 31, 2024 an extra year to complete their milestone inspections and Structural Integrity Reserve Studies (SIRS).