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What is the difference between form 1073 and 1004?
The Uniform Residential Appraisal Report (URAR) is the most commonly used single-family appraisal form, and it is also known as Form 1004. Keep in mind that Form 1004C is used for appraising single-family manufactured housing, while Form 1073 is used for inium units.
What are the two documents that create a inium?
The two documents that create a inium are the declaration, which legally establishes the inium, and the master deed, which establishes the condo association and provides specifics about the individual units and shared areas.
How is a inium established?
The description of the inium units and the common areas and any restrictions on their use are established in a founding document, which may variously be called a Master Deed, Enabling Declaration, Declaration of Conditions, Conditions, Covenants, and Restrictions (CCRs), Deed of Mutual Covenant or
What is inium coverage form?
The inium Association Coverage Form insures against direct physical loss of or damage to covered property at the premises listed and described on the declarations. The loss or damage must be due to a covered cause of loss.
What document creates a inium?
Articles of Incorporation The Articles bring the corporation into existence, and contain the outlines of its organizational structure. In California, homeowners associations are not required to be incorporated, and most smaller associations are not incorporated (and therefore have no Articles of Incorporation).
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What type of legal document allows condo ownership?
The Declaration of Covenants, Conditions and Restrictions, or CCRs, is the primary and most important governing document for a inium or planned development, and is required for all iniums and planned developments.
What is needed to create a inium property?
What is needed to create a inium property? inium declaration and master deed. Secondary deed and overall deed. Deed of record and habitation declaration.
Which ISO form is known as the condo form?
The inium Association Coverage Form (CP 00 17) is the Insurance Services Office, Inc. (ISO), commercial property coverage form that covers buildings and personal property owned by inium associations.
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