Florida Rental Lease Agreements
With traditional property, you personal the construction, plus the land on which it sits. If you purchase a apartment, nevertheless, you solely own the apartment unit itself—not the land beneath it.
It could be impractical, for instance to switch the roof of only one townhouse. But unlike the condominium, the townhouse complicated’s HOA owns none of the constructing or the land beneath it. It is essentially underneath contract to the townhouse house owners to maintain the components of the constructing which might be exhausting to divide. Even the partitions between townhouses are normally exterior the purview of the HOA, being jointly owned and maintained by the owners of the townhouses on both side. Like the condominium, the townhouse advanced often has widespread areas for roads, parking, clubhouses, and such. Among different things, this doc provides for the creation of the HOA. Rules of governance for the … Read More