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C.1714, “joint rule or sovereignty,” from Trendy Latin condominium “joint sovereignty,” apparently coined in German c.1700 from Latin com- “collectively” (see com- ) + dominum “right of ownership” (see area ). A phrase in politics and international regulation until sense of “privately owned condominium” arose in American English 1962 as a special use of the authorized term. When individuals actually want to avoid the regulation, they can do it without difficulty. California statutes recognize three sorts of “frequent curiosity developments”: condominium, townhouse, and community residence, with the latter being the owned-in-common idea described above.
B. Any dedication of whether or not assessments exceed a hundred and fifteen of assessments for the prior fiscal year shall exclude any approved provision for reasonable reserves for restore or replacement of the condominium property, anticipated bills of the association which the board doesn’t count on to be incurred on a regular or annual foundation, or assessments for betterments to the condominium property.
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The Condominium Administration and Administration certificates program is obtainable in partnership with the Association of Condominium Managers of Ontario (ACMO). Examples of residential real property embrace undeveloped land, houses, condominiums and city homes; examples of economic real estate are office buildings, warehouses and retail store buildings; and examples of commercial actual property include factories, mines and farms.
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The City of London has been the approval authority for condominium applications since 1994. In case your rental agreement, including extensions and renewals, has an unexpired term of 180 days or less, it’s possible you’ll, nevertheless, upon 30 days’ written notice cancel any extension of the rental settlement. However, the developer should pay frequent bills incurred throughout such period which exceed common periodic assessments against different unit owners in the same condominium.
J. The provisions of subsections C, D, E, F, H and I of this section do not apply if the original declaration, an modification to the unique declaration recorded earlier than the conveyance of any unit to an proprietor other than the declarant or an settlement by all the unit owners comprises provisions inconsistent with these subsections.