- Does Hoa own my land?
- Is the condo association responsible for replacing windows?
- Who owns common area in Hoa?
- What is common area in condominium?
- Can a HOA sell common area?
- Why buying a condo is a bad idea?
- Can you be kicked out of a condo you own?
- Are condo owners responsible for plumbing?
- Is a balcony considered common area?
- Are condo balconies common elements?
- Who owns the land of a condo?
- Do you own the land of a detached condo?
- Can a homeowner sue their HOA?
- Does Hoa cover structural damage?
- Can I buy land from Hoa?
- What does a condo owner actually own?
- Why you should never buy a condo?
- Is a PUD better than a condo?
Does Hoa own my land?
The homeowner’s association technically “owns” the land, and you “own” a portion of the homeowner’s association.
What you own is the inside of your condo (or townhouse, etc).
Typically, the HOA owns the area outside of the inner walls (such as the exterior, roof, etc)..
Is the condo association responsible for replacing windows?
CC&Rs typically state only that maintaining the windows as the responsibility of the homeowner, and the repair and replacement of the window as the responsibility of the association. … If your HOA has CC&Rs that do not address window replacement, the board should review the matter with their attorneys.
Who owns common area in Hoa?
Unless the declaration otherwise provides, in a condominium project, or in a planned development in which the common area is owned by the owners of the separate interests, the common area is owned as tenants in common, in equal shares, one for each separate interest.
What is common area in condominium?
In condo associations and homeowners associations the common areas are jointly owned by the homeowners, who must pay a common area assessment for its maintenance and upkeep. In some condominiums, spaces like balconies, used by a single tenant, are considered common areas.
Can a HOA sell common area?
Yes, You Can Sell Common Elements–Usually “But generally you can withdraw any portion of the common area upon which no unit has been added if the master deed doesn’t prohibit it, sell it, and distribute the money to the owners.”
Why buying a condo is a bad idea?
Owning a condo harbors more financial obligation than single family homes and gives you more uncertainty when it comes to estimating unexpected expenses that you might incur. The best rule is to always overestimate your expenses when buying a condo for investment.
Can you be kicked out of a condo you own?
A condo board cannot remove an owner from their property; only a court can do that. A condominium board does not have the power of eviction because condo units are separately-owned parcels of real estate.
Are condo owners responsible for plumbing?
“In a typical condominium association, all domestic plumbing contained within the walls (risers) belongs to the association. … The unit owner is responsible for all the plumbing fixtures within their unit—tubs, toilets, sinks, faucets and drain lines from their unit to the vertical main line,” Meyer explains.
Is a balcony considered common area?
Balconies or patios are part of the common elements because they are outside the boundaries of a unit. They are considered limited common elements because their use is limited to the owner or resident of the adjacent unit. … Generally, the owner is responsible for these areas, including the surface and railings.
Are condo balconies common elements?
Exclusive-use common element areas are those portions of the Common Elements of the Condominium Corporation designated for the exclusive use of specified units. These can be such items as balconies, patios, signage areas, lockers and storage areas, or loading docks and parking spots.
Who owns the land of a condo?
If the townhouse or rowhouse is a bare land condominium, the owner has ownership of the land up to the property’s boundaries. This means the owner is responsible for landscaping and exterior repairs (e.g. patio or deck) unless the bylaws say otherwise.
Do you own the land of a detached condo?
You have rights to sell the space (i.e. building / apartment), but no rights to the land. A detached condo is simply that arrangement in a neightborhood made up of free standing single residence homes – instead of multi-dwelling units (like a duplex, fourplex, 8-plex, etc etc).
Can a homeowner sue their HOA?
A homeowner has the right to sue the HOA for breach of its fiduciary duties. To fulfill these duties, the HOA must exercise ordinary care, in a reasonable and good faith manner, in the performance of its duties. … A homeowner might also sue an individual board member for breach of fiduciary duty.
Does Hoa cover structural damage?
HOA condo insurance covers parts of the structure and grounds that include common areas, the exterior walls and roof. It doesn’t cover damage inside an owner’s unit.
Can I buy land from Hoa?
The short answer is “it depends”. There’s a difference between common areas and association-owned property. For example, your HOA may own a strip of land as part of grounds not designated as common area. … Therefore an HOA would typically need approval from each of them and each of their mortgage companies.
What does a condo owner actually own?
With regular condominiums, 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 condominium the owner owns the land and building and the corporation owns common shared roadways and amenities.
Why you should never buy a condo?
Less Space and Flexibility. Another one of the reasons not to buy a condo is that you have less space and flexibility in how you use your place. Some condos offer owners extra storage space or possibly a basement, but you’ll still likely have a smaller, more compact living environment than you would in a house.
Is a PUD better than a condo?
The HOA fee is often used to cover road maintenance, or maintenance of commonly owned land or buildings. The difference between a PUD townhome and a condominium townhome is that in a PUD, you actually own the land your townhome sits on, and usually a small back and front yard also.