Condominium Declaration
A Condominium Declaration is a legal document that establishes a condominium project and outlines the rights and responsibilities of the unit owners and the homeowners’ association (HOA). This document is recorded with the local government and serves as the foundational governance document for the condominium.
The Condominium Declaration typically includes several critical components:
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Description of the Property: It provides a detailed description of the condominium property, including the boundaries of individual units and common areas.
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Unit Ownership: The declaration specifies the ownership structure, detailing how each unit is owned individually and how common areas are jointly owned by all unit owners.
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Rights and Obligations: It outlines the rights of the unit owners, such as the right to use common areas, and their obligations, including payment of homeowner association fees and adherence to community rules.
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Voting Rights: The declaration often establishes how voting rights are allocated among unit owners, which is crucial for decision-making within the HOA.
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Amendment Procedures: It describes the process for amending the declaration, which may require a certain percentage of unit owner approval.
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Common Expenses and Assessments: The document outlines how expenses for maintaining common areas are assessed and how those costs are shared among unit owners.
An example of a Condominium Declaration might include provisions that require unit owners to obtain insurance for their individual units while the HOA maintains insurance for common areas. This ensures clear lines of responsibility and coverage in case of damage or liability.
In essence, the Condominium Declaration is crucial for establishing the operational framework of a condominium community, ensuring that all parties understand their rights and responsibilities, and facilitating a harmonious living environment.
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