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Florida CAM Prep Test with Complete Solution
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Florida CAM Prep Test with Complete Solution A Community is defined as - ️️ - Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and w...

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  • June 3, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • florida cam prep test with complete solution

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  • Florida CAM
  • Florida CAM

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Florida CAM Prep Test with Complete Solution

A Community is defined as - ✔️✔️- Real or personal property owned by two or more

entities, with a "legally binding agreement (covenant) to share responsibility and costs

for maintenance and administration of property, assets, and association, and with

specific rights granted to the members.

Community Associations are structured by - ✔️✔️- Formal (in writing), legal documents

defining property rights, rules and restrictions.

Community Associations are also refered to as - ✔️✔️- Covenant

Conceptually Community Associations: - ✔️✔️- Maximize land use, share

responsibility, and expenses.

What are the 5 types of Community Associations? - ✔️✔️- Condo, Cooperative, HOA,

Timeshare, Mobile Home Park

What are the 3 specific requirments of CA in Florida - ✔️✔️- Membership is mandatory,

members must have the right to vote, an assessment, if unpaid can become a lien.

What factors influence the type of association that can be developed? - ✔️✔️- Zoning,

CDMP

These documents define the regulations for use of land, member's rights, &

responsibilities, and create the entity that will manage the community. - ✔️✔️-

Declaration of covenants & restrictions/declaration of condominium, Articles of

incorporation, bylaws.

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