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The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the ...
Homeowners insurance vs. condo insurance. ... which is a fee assessed to all units to cover the deductible and other amounts paid by the association. For example, a large tree fell during a ...
HO-6 insurance, on the other hand, is typically only available to condominium owners. HO-3 policies will normally include coverage for an owner’s personal belongings as well as liability.
Condominium is an invented Latin word formed by adding the prefix con-'together' to the ... Home insurance; ... Condominiums are usually owned in fee simple title, ...
In June 2012, the Supreme Court of Virginia ruled in the case Shadowood Condominium Association et al. v. Fairfax County Redevelopment and Housing Authority that an HOA's power to fine owners for rule violations (including being in arrears) is limited to those expressly provided in the HOA's valid governing documents (e.g. the HOA's Bylaws ...
To be clear, SB3234 SD1, HD1 and HB2686 HD1, SD1 focus on increasing the availability of condo property and hurricane insurance, not on lowering the price, although premiums may fall in a few ...
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