Sentences with phrase «for condominium unit owners»

Finally, special insurance policies are available for condominium unit owners.

For the condominium unit owner, there are several insurance concerns.

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.

New York City officials issued a summons to the owner of a condominium at Trump Tower that gained notoriety after being rented out on Airbnb, determining that the unit was being illegally advertised for rent.

Most single - family homes, two - to - four unit owner - occupied dwellings or townhouses and approved condominiums and manufactured homes are eligible for a reverse mortgage loan.

«A condominium corporation's insurance will cover the building and the common elements, like elevators or front lobby, but the condo owner must insure their own unit, personal items and protect themselves against liability if they are responsible for damage caused to a neighbour's unit.»

For instance, if a building is owner occupied single family detached building and individual condominium unit which is insured under the dwelling policy form, you will be surcharged $ 25.

Unlike the owner of a single - family home, a single - unit condominium owner does not need coverage for the entire building, instead, just their unit.

In arguing for tax equity for rentals and tenants it is important to note that, Ottawa dramatically favours homeowners over tenants in tax policy because owners are exempt from capital gains taxes, people can often buy a condominium and make payments $ 200 lower than rent for a similar unit.

Any credit worthy potential owner - occupant who will make the condominium unit their principal residence and who meets FHA underwriting criteria is eligible for a mortgage insured under this program.

The court granted the condominium corporation full access to the unit (upon 48 hours» notice to the owner) for the purpose of:

The Canada Elections Act says that condominium owners have the right to place signs in their units (for instance, in their windows).

Property managers, condominium directors, unit owners and others should stay tuned to our blog for commentary on recent and developing trends, digests of recent court decisions, condo - related news from around the province and around the world, and more!»

The Judge noted that as a result of the unit owner's adamant refusal to remedy the fireplace problem, the unit owner only had himself to blame for the costs incurred by the condominium corporation relating to its court application.

Consequently, the prescription period as well as common - law adverse possession rule can confer upon the «squatting» unit - owner a right to exclusive use of the disputed space that extinguishes a claim for an allocation of exclusive use under a condominium declaration.

``... [the condominium corporation] was entitled, [and indeed obliged, pursuant to its statutory duties of repair and maintenance], to embark on the garage deck remedial work without the need for unit owner notice or approval, let alone approval by the special majority vote contemplated by s. 97 (4)[which applies to «substantial changes»]»

Even if a condominium corporation's governing documents permit owners to rent their units for an unlimited number of days in a year, owners will have to comply with municipal regulations once they come into force.

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

«[Section 91 of the Condominium Act] does not grant a condominium corporation the authority to impose on a unit owner the obligation to repair common elements after damage, except for common elements designated for the exclusive use of an owner.»

In a recent case, YCC No. 922 v. Lu, the owners of a condominium unit were ordered by the Ontario Superior Court of Justice to permit the condominium corporation to enter the unit for the purpose of inspecting and repairing damage to the unit and the common elements caused by flooding in the basement of the unit.

SB 1520 amends 718.117, Florida Statutes, regarding the optional termination of condominiums, making it more difficult for a Plan of Termination to be passed without full consent of the unit owners.

At Landy Marr Kats LLP we have acted for both condominium corporations and unit owners, in many such disputes.

Obtained a preliminary injunction for a condominium association in an action against unit owners to enforce the unit owners» adherence to the bylaws.

The condominium documentation may also contain provisions that would enable the Corporation to require that the unit owner pay for the costs of any work needed to the unit and / or to the ventilation system in order to prevent the smoke and smell of marijuana from permeating into the common elements or to other units of the building.

Each owner of a condominium unit becomes a member of the condominium corporation for that building.

In the decision, the Judge chastised the condominium's board of directors for being irresponsible and flippant in quickly determining that the owner of unit 48 should pay to clear the blockage.

In a recent case, Washington v. Y.C.C. No. 441, a commercial condo unit owner successfully sued the condominium corporation after the corporation registered a lien against his unit for repair costs related to clearing a blockage in the plumbing system.

The condominium corporation took the position that the blockage was caused by grease emanating from unit 48 and that the owner of unit 48 was responsible for the costs to clear the blockage as he had failed to properly maintain his unit.

The condominium unit owner is required to abide by the rules of the corporation that have been created for the purpose of preventing unreasonable interference with the use and enjoyment of the common elements, the units or the assets of the corporation.

(1) Subject to subsections (2), (2.1) and (2.4), an owner, an occupier of a proposed unit, a corporation, a declarant, a lessor of a leasehold condominium corporation or a mortgagee of a unit may make an application to the Superior Court of Justice for an order enforcing compliance with any provision of,

What does it take for a condominium corporation to force the removal of a unit owner from a unit?

131 (1) Upon application by the corporation, a lessor of a leasehold condominium corporation, an owner or a mortgagee of a unit, the Superior Court of Justice may make an order appointing an administrator for a corporation under this Act if at least 120 days have passed since a turn - over meeting has been held under section 43.

163 (1) If the board of a vacant land condominium corporation determines under section 123 that substantial damage has occurred to a building located on a unit and the owners do not vote for termination under that section, the owner of the unit may elect,

In the recent case of Toronto Condominium Corp 1462 v Dangubic, the condominium corporation registered a lien against an owner's unit for recovery of legal costs incurred by the corporation in relation to «compliance letters» sent by the corporation's legal counsel to the owner.

As you can appreciate, the lack of separate legal title for each separate space can make it difficult for the condominium corporation to keep track of which unit owner is parking in which space, especially when units are being sold and new owners are moving into the condominium.

If the Board does not provide any such pertinent information to the manager, which results in an error / omission in the status certificate, then the condominium corporation (and ultimately all of the unit owners) will be responsible for the mistake.

the corporation's rules and by - laws both specifically provided that the unit owner is responsible for legal expenses incurred to seek compliance with the condominium documents.

After numerous compliance letters had been sent to the owner and the noise continued, the corporation registered a lien against the unit for the legal fees it incurred in seeking compliance with the condominium documents.

The House of Delegates of the Maryland General Assembly has passed legislation that authorizes a condominium declaration to provide for the suspension of the use of parking or recreational facility common elements by a unit owner that is more than 60 days in arrears in the payment of assessments.

The condominium declaration provided that the owner's parking units could be used for «a commercial parking business for the leasing of individual parking spaces for such period of time as the Owner... may in its sole discretion determine provided not less than 30 such Parking Units are made available at all times for hourly or daily parking.&rowner's parking units could be used for «a commercial parking business for the leasing of individual parking spaces for such period of time as the Owner... may in its sole discretion determine provided not less than 30 such Parking Units are made available at all times for hourly or daily parking.&runits could be used for «a commercial parking business for the leasing of individual parking spaces for such period of time as the Owner... may in its sole discretion determine provided not less than 30 such Parking Units are made available at all times for hourly or daily parking.&rOwner... may in its sole discretion determine provided not less than 30 such Parking Units are made available at all times for hourly or daily parking.&rUnits are made available at all times for hourly or daily parking.»

It is not an option for CAO, a creature funded by condo unit owners, to remain silent or on the sidelines while government rolls out regulations that profoundly impact the operations and budgets of every condominium corporation.

The policy of this type provides personal property coverage, personal liability for residents and guests of the policyholder and specific coverage of improvements to the owner's condominium unit.

For example, it does not cover losses resulting from burglary, damage from water plumbing and many mishaps that may occur on the part of the building occupied by the condominium unit owner.

This coverage is designed for condominium unit - owners willing to insure items not covered by the association policy.

The ruling in the case of Mari and Kieran is that even when the property damage is caused not by the fault or negligence of an individual unit owner but simply due to defective plumbing or a malfunctioning appliance, that the condominium unit owner may still be held responsible for the damage.

If this is the case then you do have a consideration within a condominium unit owner policy to pay for assessments such as the deductible.

The condominium unit owner will be required to reimburse the condominium corporation for the deductible portion of the insurance claim.

HO - 6 policies, designed for co-op and condominium owners, cover liability, belongings and improvements to the owner's unit.

Most single - family homes, two - to - four unit owner - occupied dwellings or townhouses and approved condominiums and manufactured homes are eligible for a reverse mortgage loan.

In short, the condominium board or building owner that is faced with this type of situation is in for a long, rough ride, as are the unit owners.