Condominium Association

Condominium Association - A condominium association is a governing body or organization established within a condominium complex or community. It is typically composed of unit owners within the condominium development. The association's primary responsibilities include managing and maintaining common areas and facilities, enforcing rules and regulations outlined in the condominium's governing documents, and collecting fees or assessments from unit owners to cover shared expenses. It plays a crucial role in ensuring the smooth operation and upkeep of the condominium community.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/R9zN7SGPrsshAytaOStmbmJ
Label (rdfs): Condominium Association
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Definition and Examples

Definition: A condominium association is a governing body or organization established within a condominium complex or community. It is typically composed of unit owners within the condominium development. The association's primary responsibilities include managing and maintaining common areas and facilities, enforcing rules and regulations outlined in the condominium's governing documents, and collecting fees or assessments from unit owners to cover shared expenses. It plays a crucial role in ensuring the smooth operation and upkeep of the condominium community.
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Class Relationships

Sub Class Of: Homeowners' Association
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Additional Information

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Deprecated: False

Metadata

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