Unit 1: Principles of Community Living Flashcards
A lot within the HOA community which is
capable of separate conveyance and the
owner of which is obligated to be a member
of the association and pay assessments
that, if not paid, may result in a lien.
Parcel
Jointly owned and jointly used portions of a
condominium that are not included in the
units.
Common Elements
Jointly owned common elements reserved
for the exclusive use and benefit of a
specific unit.
Limited Common Elements
Rights, interests and benefits – including
use of common areas, membership in the
association, voting rights, easement for air
and view rights, and restrictive covenants
that attach to and run with ownership until
the community is terminated
Appurtenances
A common interest community in which
portions of the real estate are designated
for separate ownership, the remainder of
the real estate is designated for common
ownership solely by the owners of the units,
and undivided interests in the common
elements are vested in the unit owners.
Condominium
The document that creates a condominium
when recorded with the clerk of circuit
court in the county where the property is
located.
Declaration of Condominium
The transfer from developer control of a
community association to the
establishment of a unit owner controlled
association
Transition
Taking an existing, previously occupied
improvement and changing the form of
ownership to a condominium.
Conversion
The Division of the Department of
Business and Professional Regulation that
has the power to enforce and ensure
compliance with the provisions of
Chapters 718, 719, 720, 721 and 723, F.S.
and rules relating to development,
construction, sale, lease, ownership,
operation, and management of developer
controlled residential condominium units.
Division of Florida Condos, Timeshare, and Mobile Homes
The governor-appointed attorney who
acts as liaison between the division, unit
owners, boards of directors, board
members, community association
managers, and other affected parties.
Ombudsman
A form of ownership of real property in
which legal title is vested in an association
and the right to occupy or use is
evidenced by an ownership interest in the
association and a proprietary lease
Cooperative
A Florida corporation responsible for the
operation of a community or a mobile
home subdivision in which the voting
membership is made up of parcel owners
and in which membership is a mandatory
condition of parcel ownership, and which
is authorized to impose assessments that,
if unpaid, may become a lien on the
parcel.
HOA
An arrangement whereby a purchaser, for
consideration, receives ownership rights
in or a right to use accommodations, and
facilities, if any, for a period of time less
than a full year during any given year
Timeshare Plan
