Sentences with phrase «condominium owners share»

Because co-op and condominium owners share their building structures, two policies — a master policy and an individual policy — are required to fully protect all parties involved.

Because co-op and condominium owners share their building structures, two policies — a master policy and an individual policy — are required to fully protect all parties involved.

Not exact matches

It covers situations in which the unit owners in a condominium are financially responsible for a shared loss, so long as the issue was a covered peril.

Those portions of a building, land, and amenities owned (or managed) by a planned unit development (PUD) or condominium project's homeowners» association (or a cooperative project's cooperative corporation) that are used by all of the unit owners, who share in the common expenses of their operation and maintenance.

Condo owners also typically are required to pay into a Master Policy which covers the shared areas of the condominium building.

CONDOMINIUM Ownership in which owner has title to a dwelling unit and owns a share of the common elements - e.g. elevators, hallways and the land.

With the increase in «sharing» websites that enable condo owners to rent out their units for short - term stays, many condominium corporations are deali...

The first board elected by the unit owners after turnover by the developer should be carefully reviewing the corporation's declaration and any cost sharing agreements with other condominiums or property owners (or instructing the corporation's legal counsel to carry out the review) in order to determine the corporation's rights and responsibilities.

Condo owners have benefits that aren't shared by the average homeowner, in particular freedom from having to care for landscaping and being able to benefit from security services provided by their condominium association.

Common Areas Those portions of a building, land, and amenities owned (or managed) by a planned unit development (PUD) or condominium project's homeowners» association (or a cooperative project's cooperative corporation) that are used by all of the unit owners, who share in the common expenses of their operation and maintenance.

The State of Florida does its part to protect home owners living in shared residential communities (condominiums, timeshares, mobile homes) not only through the passage of legislation designed to assist in the resolution of disputes that may arise, but also by the creation of an agency designed especially to resolve controversies: the Florida Department of -LSB-...]

CONDOMINIUM Ownership in which owner has title to a dwelling unit and owns a share of the common elements - e.g. elevators, hallways and the land.

However, as with all things in life, there are pros and cons with condo living — and for condo unit owners, the ease and convenience of the condominium lifestyle brings with it the need to get along with neighbors who share common areas, common walls, as well as the reality that owners must deal with their Condo Boards.