Florida community stuvia - Study guides, Class notes & Summaries

Florida CAM Pre-Licensing Course - Exam 1 with Complete SolutionsFlorida CAM Pre-Licensing Course - Exam 1 with Complete SolutionsFlorida CAM Pre-Licensing Course - Exam 1 with Complete SolutionsFlorida CAM Pre-Licensing Course - Exam 1 with Complete Solutions 1. - ANSWER-The definition of a community association includes which of the following:

A community association is Generally defined as real or personal property,owned by two or more entities, which share the responsibility for the cost of maintenance and administration - Answer True Purchasers of a timeshare plan have a 10 day contract recision period in which to cancel the purchase - Answer True Not for-profit corporations are exempt from federal income taxes - Answer False A condominium and a hospital may join together to create a self insurance pool for windstorm insur...

Community Association - Answers A community association is defined as any type of association which is connected to or linked to residential property ownership through which the purchase of a residential unit within the community includes a membership in the association which provides the vehicle and structure for the management of the common property of the association and to provide for the governing body to manage the affairs of the association. Membership in the community association is mand...

A Community is defined as - Answer 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 - Answer Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as - Answer Covenant...

A type of joint ownership of real estate where legal title is not vested in the individual, but the individual receives the right to occupy a unit, is a: A. mobile home. B. cooperative C. mandatory homeowners' association. D. condominium - ANSWER-B. The type of community association that permits individual units to be owned and occupied by different people during the year is a: A.time-share property. B.cooperative. C.phase condominium D.townhouse - ANSWER-A. Appurtenances in a c...

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 - ANSWER-True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - ANSWER-True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - ANSWER-True A valid Declaration of Condominium must contain easements for ingress and egress...

A Community is defined as - ANSWER-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 - ANSWER-Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as - ANSWER-Covenant...

A Community is defined as - ANSWER-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 - ANSWER-Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as - ANSWER-Covenan...

1. - ANSWER-The definition of a community association includes which of the following: - ANSWER-a. A residential or commercial development whether a condominium, cooperative, or homeowners' association. - ANSWER-b. A development where membership is mandatory and which is authorized to impose a fee on owners. - ANSWER-c. A development where the owners may opt out of the membership prior to signing the contract for sale. - ANSWER-d. A development that places the maintenance and o...