UNIT OWNER INFORMATION SHEET Condominium Corporation - clubcitadelle 2025

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A inium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but share common spaces, amenities, and other resources. They pay condo fees, which cover maintenance costs, amenities, and the upkeep of common spaces.
With regular iniums, the unit owner usually owns the internal unit space and a share of the corporation; the corporation owns the exterior of the building land and common area; in the case of a freehold inium the owner owns the land and building and the corporation owns common shared roadways and amenities.
inium Documents: In a inium setting, the parking space may be designated as a limited common element or a separately deeded unit. The condo associations declaration and bylaws should clearly outline the rights and responsibilities related to the parking space.
A condo, also known as a inium, is a housing or residential complex with separate units, each owned by an individual owner. Renters lease directly from the condo owner. Condo owners are responsible for what goes on within their individual units, including maintenance and repairs.
Four types of legal governing documents are typically associated with subdivisions such as iniums and planned developments: the Declaration of Covenants, Conditions and Restrictions (or CCRs), the Bylaws, the Articles of Incorporation, and the Rules.
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