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The first condominium law passed in the United States was in the Commonwealth of Puerto Rico in 1958. [44] [45] In 1960, the first condominium in the continental U.S. was built in Salt Lake City, Utah. The legal concept had spread to the U.S. from Europe via the Caribbean (Puerto Rico and Cuba) but throughout the 1960s it was widely and ...
800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... Instead, the condo association’s master policy will take care of the common areas and building structure, just like a co-op ...
Under Davis–Stirling, a developer of a common interest development is able to create a homeowner association (HOA) to govern the development. As part of creating the HOA, the developer records a document known as the Declaration of Covenants, Conditions, and Restrictions against the units or parcels within the HOA with the county recorder.
The condop is a type of condominium building, not a distinct legal construct. A condop, a portmanteau of the words condominium and cooperative (or "co-op"), is a co-op inside a condo. [3] Stepping back, condominium owners actually hold title to a piece of real estate. Co-op owners are actually shareholder-tenants with shares in and a long-term ...
When there are 10 HOAs, but one master, who's in charge of what? Homeowners confused over the rules regulating these boards; legal expert explains
Here's what your Florida condominium association insurance master policy covers versus your own HO-6 policy.
A condominium or "condo" is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with ...