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Would a dock that is attached to a condominium with boat slips which are deeded to individual owners of units in condo be part of the common elements?
Wiki User
∙ 14y ago
Read your governing documents to determine the ownership status, the maintenance responsibility and the other pertinent details associated with the boat slips in your community.
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∙ 14y ago
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What are the elements of the condominium?
The elements may be the real estate assets of the association.When condominium 'elements' are defined in the context of a Reserve Study, the elements are assets for which reserve dollars are set aside, so that when the element reaches the end of its useful life, there are monies available to replace it, or to perform major repairs.AnswerCommon elements is a term legally associated with condominiums. Common elements are defined by statutory law, which is controlling over any description in any declaration of the condominium. The common elements are all those parts of the condominium and the land that is not designated as units. The common elements identify all the areas owned in common and shared by all the unit owners such as land, streets, building exteriors -- roofs, siding (with boundaries described in the declaration), recreational facilities, laundry facilities, conservation areas, non-assigned parking areas, storage areas, exercise rooms, common deck areas, community rooms, stairwells, elevators, hallways, lobbies, etc. Each unit owner owns a percentage of the common elements in common with the other unit owners.Limited common elements are the exclusive rights in common elements that are particular to each unit and use by other unit owners is prohibited. These can include patios and terraces attached to a particular unit, assigned parking spaces and driveways, assigned storage areas, etc.A unit is the part of the condominium that is available for individual ownership together with the limited common elements that run with the unit.All of the above comprise the elements of a condominium.
Is an entry door to a condominium unit considered a common element?
It depends on your condominium governing documents, where you can find a list of assets owned as limited common elements, meaning assets owned in common for the benefit of a single or a single group of owners. Generally, in a high-rise condominium, for example, unit entry doors are considered limited common elements.
Is the attached garage of a townhouse common property of a condominium?
Depending on what's written in your governing documents, an attached garage may be a limited common element, that is owned in common, but available to not all owners, owned outright by the unit owner or a common element. Read your governing documents to determine how your attached garage is owned. There is no standard.
What is condo house?
This phrase describes a house that is owned by deed as a condominium, meaning that all owners in the association own a percentage of the total real estate assets, based on individual allocated interests.
Who pays for property insurance in a condominium?
In a condominium usually the board pays for property insurance on all common areas. An individual owner pays for 4 walls, the ceiling, the floor, the inside of the door, and everything in between.
What is townhouse?
A townhouse -- which is a style of building, is owed by a condominium association, which is a style of real estate ownership. Condominium associations own all the common elements in the real estate development, each owner holding a percentage of ownership that relates to his/her allocated interest. In addition, the owner owns title to a unit. In this case, the interior of the townhouse is the unit -- boundaries between individual and association ownership defined in CC&Rs -- which is titled to an owner, together with that percentage ownership of all common elements owned by the association.
Is wall sharing between owners of condo units consider to be common area?
Read your governing documents. In the index, look for 'Boundary Definition' or similar entry, which will answer your question.Every condominium unit is different; every state is different -- and condominium governing documents are based on individual state condominium laws.
What is the difference between a townhouse and a condominium?
A condominium is a single housing unit that is usually attached to other units within a larger complex with common walls and the owners only own the inside of an individual unit, whereas a townhouse is a unit of consecutive series of similar residential units that may or may not share common walls, with two or more levels and may have front and back yards of their own. . A condominium is a unit that is part of a larger building, most share one or more walls with others. A townhouse is usually a row of units that are identical. In some regions townhouse also means two-story.
Is the frame and crawl space a common element of a condominium?
Your governing documents can make this clear. Every condominium's definition of the ownership boundaries is different from every other property's definition. Because of fire codes, if you're referencing the frame and crawl space exclusively above your unit, it's possible that they are referred to as limited common elements -- or common elements, depending on legal phrase used by the developer and the attorney s/he hired to craft your governing documents.
Are window frames common area in a Condominium?
The subject of windows often precipitates the most troubling conversations, raising questions asked about condominiums and exactly what the association owns as common area and what an individual owner owns.The governing documents specify what real estate elements are owned and exactly who owns each.However, very few governing documents specify ownership of window elements. Therefore, when a window is damaged or requires replacement, the condominium board and the owner involved look to the governing documents to determine who pays for the replacement.Without a definition of window elements under the category of windows, it's a good idea for the board to take the time to work with counsel to define ownership of the window elements.Window elements might include:glass -- all panes, gas between panesframesashlockshutterscreenexternal architectural elements around windowsinternal frames around windowswindow sillsOnce ownership of window elements -- and the elements might be different for different types of windows, including sliding glass doors, possibly -- is defined, then responsibility for replacing a 'window' can be established.Note that every condominium association and its assets is different from every other condominium association and its assets.
When are Condo association fees attached to the property?
Condominium unit ownership and assessments are not separate; assessments are always associated with a condominium unit. LONGER ANSWER Assessments connected to individual condominium units are included in the purchase/sale agreement, based on the allocated interest of that unit in a 100% total ownership of all the common areas in the community that are owned in common by all owners. Said another way, one always buys/sells a condominium unit with assessments, the amount of each being determined annually by the association. (Assessments pay bills to operate the community. Line items can include master insurance policy premium, maintenance and upkeep of amenities, contributions to reserves and other expenses to be funded by owners.)
Do you own land when you own a condominium?
You don't own any particular plot of land as an individual. You own a percentage interest in all the land in the condominium project along with all the other unit owners. That percentage is recited in the deed for each unit. You own a shared interest in the common areas and that includes the land.Generally, a condominium is a distinct form of ownership in the U. S. (and other countries) whereby an individual owns a unit and shares joint ownership of the common areas with the other unit owners, which includes the land. In addition to owning your own unit of a condominium building in fee, you would also be part owner of the land upon which the condominium is constructed.For example, a typical Massachusetts condominium deed would state: "Unit #2 of the Old Mill River Condominium together with a .05% interest in the common areas and facilities." That owner would own a .05% fee interest in the common areas along with the land encompassed by the condominium project. Similar language is used in other jurisdictions.For a discussion of what you own when you own a condo unit in the State of Washington see the following:http://www.ticorblog.com/blog/condo-or-co-op-whats-the-difference/See also the following related question discussing the difference between condominium units and townhouse units:Does_a_townhouse_own_the_land_beneath_it_whereas_a_condominium_owners_own_only_the_unit_plus_a_part_of_shared_common_grounds_and_amenities
