Condos - Study guides, Class notes & Summaries

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete -Answer B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the righ...

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase True The Florida Fair Housing Act prohibits discrimination on the basis of handicap True A valid Declaration of Condominium must contain easements for ingress and egress to all unit...

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - Answer- B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the rig...

The first principle of restoration as described by the S500 on a restoration project is to _____ - Answer Account for the health and safety of occupants Describe at least three characteristics of commercial drying projects that make it different from typical residential ones - Answer Complex wiring Public access and security Multiple stakeholders Electrical power Complex construction,materials, codes The S500 describes Commercial Buildings in the following way: •Commercial...

New York Real Estate Exam with 100% Verified and Updated 2024 Where is the license law written? - Answer ️️ -Article 12-A Who is responsible for administrative discipline of real estate licensees? - Answer ️️ - Department of State or Secretary of State Under NYS Real Property Law, when Department of State revokes a salesperson's license, how much time must past before the salesperson can be relicensed? - Answer ️️ -One year If a broker's licensed is revoked, what happens to ...

NY CE Shop Exam Prep - Commercial & Investment properties, Condos & coops, Construction fully solved

master builder correct answers In ancient Egypt, architecture, engineering, and construction were all the responsibility of one person, called? residential, commercial, heavy civil, industrial, & environmental correct answers 5 sectors of the construction industry? owner, designers, & contractors correct answers 3 primary players in an construction project? multi-family dwellings correct answers apartments, condos, & townhomes are referred to as? Architects & engineers correct answer...

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the right to bu...

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the right to bu...

The Delton Beach Condo, with 400 units, has a budget of 2.5 million. It also has $3M reserves. a. The ass must maintain a Fidelity Bond of $5.5M. b. The ass must hire a CAM. c. The ass must have an annual audit. d. The ass must have at least 5 directors on the board. - ANSWER c. The ass must have an annual audit. Condos with revenues of $500K or ore must have an annual audit, unless waived by a majority of members in a duly called meeting. Members may not waive more than 3 consecutive yea...