Condominium Association Rules Form
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People also ask
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What document describes the basic rules under which a condominium operates?
The Declaration of Covenants, Conditions and Restrictions, or “CC&Rs”, is the primary and most important governing document for a condominium or planned development, and is required for all condominiums and planned developments.
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What is the New York Condos Act?
The Condominium Act is the New York State law which governs the establishment of condominiums. The decisions made by courts in cases involving the Condominium Act are the case law which interprets the statute.
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What is the governing body of a cooperative called?
The elected board is the governing body of the cooperative. It has certain legal respon- sibilities to the members and others like financiers, and holders of marketing, sup- ply, or service contracts. The hired man- ager reports to the board and is responsible for the cooperative's day-to- day operations.
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What does a condo owner actually own?
A condominium, or condo, is an individually owned unit in a complex or building of units. A condo owner owns the space inside their condo and shares ownership interest in the community property, such as the floor, stairwells, and exterior areas.
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What are the rules by which a condominium owners association operates known as?
A condo association's primary set of rules can be found in a governing document known as the Declaration of Covenants, Conditions and Restrictions (CC&Rs).
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What is the HOA law in New York state?
Homeowners' Associations in New York, or otherwise known as Common Interest Communities, are regulated by the Attorney General's office and must be set up as non-profit organizations. They are governed by NY Not-For-Profit Corporation Law, the Association's Articles of Declaration, and Bylaws.
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What are the rights of condo owners in NY?
Condo owners have the right to run for board positions and vote in annual board elections. They can vote by proxy or in person as long as there is an authentic authorization. Condo boards must allow elections as outlined in the association's bylaws. They need to give condo owners adequate notice of upcoming elections.
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What are the owner's rights and obligations for a condominium called?
Declaration of covenants, conditions, and restrictions (CC&Rs) establish the “ground rules” for the condo association. This governing document also establishes the obligations of condo owners to the association and vice versa.
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