The Georgia Master Deed Declaration of Condominium is a crucial legal document that outlines the governing rules, regulations, and obligations associated with owning and managing a condominium unit in the state of Georgia. It serves as the primary resource for both condominium owners and the condominium association or HOA (Homeowners Association) to understand their rights, responsibilities, and limitations. The Master Deed contains detailed provisions and clauses that cover various aspects related to the condominium development, including the description of the property, common areas, individual units, and the rights and obligations of the unit owners. It defines the legal boundaries of each unit and clearly identifies the shared areas, such as hallways, lobbies, elevators, parking lots, recreational facilities, and other amenities available to all residents. One important component of the Master Deed is the allocation of common expenses and maintenance responsibilities. It describes how these costs will be divided among unit owners, typically based on the proportionate interest or percentage assigned to each unit. The document also outlines the procedure for collecting monthly or annual assessments from the owners to cover these shared expenses and maintain the common areas. Furthermore, the Master Deed establishes the restrictions and limitations that all unit owners must adhere to, ensuring harmonious living within the condominium community. It may include rules regarding noise levels, pet policies, architectural guidelines, restrictions on rental or subletting, and other regulations aimed at preserving the aesthetics, privacy, and overall lifestyle of the residents. In Georgia, there may be different types or categories of Master Deed Declarations of Condominium, depending on the specific characteristics or purposes of the condominium project. Some common types include: 1. Residential Condominium Master Deed: This type of Master Deed is used for condominium complexes primarily intended for residential purposes, where individuals or families own the units. 2. Commercial Condominium Master Deed: Commercial properties, such as office buildings or retail centers, may have a unique Master Deed tailored to the needs and requirements of commercial unit owners. 3. Mixed-Use Condominium Master Deed: In cases where a condominium development incorporates both residential and commercial units within the same complex, a mixed-use Master Deed is employed to address the distinct aspects of each property type and meet the needs of diverse unit owners. 4. Resort or Vacation Condominium Master Deed: Certain condominium projects in Georgia cater to vacationers or resort-style living. The Master Deed for these types of properties may include provisions specific to amenities like swimming pools, golf courses, spas, and other recreational facilities. In conclusion, the Georgia Master Deed Declaration of Condominium is an essential legal document that outlines the governing rules, regulations, and obligations for owning and managing condominium units. While there may be different types of Master Deed Declarations, they all serve the purpose of providing clarity and structure to the condominium community, ensuring a harmonious and well-maintained living environment for all unit owners.
Georgia Master Deed Declaration of Condominium
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How to fill out Georgia Master Deed Declaration Of Condominium?
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FAQ
Master deed. This is a deed filed by a condominium owner to record the property and allow sales of the individual condos and use of communal areas by owners.
Sections 85 and 86 of the Condominium Act, 1998 (the ?Act?) set out a condominium corporation's power and authority to have, register and enforce a lien against a unit owner's property on account of non payment of common expense contributions without any form of judicial process.
O.C.G.A § 44-3-107 states, in part: ?(a) The association shall obtain: (1) A property insurance policy or policies affording fire and extended coverage insurance for and in an amount consonant with the full insurable replacement cost, less deductibles, of all buildings and structures within the condominium.?
: a deed of conveyance executed by a master in chancery in pursuance of an order of the court commanding one of the parties to make the conveyance or the master to do it in his name.
A condominium shall come into existence upon the recordation of the declaration pursuant to this article and of the plats and plans required by Code Section 44-3-83. The declaration shall be duly executed by or on behalf of all of the owners and lessees of the submitted property. Ga.
Section 83(1) of the Act requires landlords to notify the condo corporation of the rental and provide a copy of the lease within 10 days of signing.
What is the Georgia Condominium Act? The Georgia Condominium Act (GCA) regulates all condominiums that were created after July 1, 1975 and any Georgia Apartment Ownership Act (AOA) that submitted to the GCA.
If insurance to cover property damage caused by water has not been obtained by the condominium association, or if the water damage does not constitute a ?covered claim? by the insurance company, absent negligence and/or an intentional act, each party is responsible to repair and replace the Unit and/or the Common ...