Common use of Entity Created Clause in Contracts

Entity Created. It is hereby expressly declared that a trust and not a partnership has been created, and that the Unit Owners are cestuis que trustent and not partners or associates nor in any other relation whatsoever between themselves and with respect to the Common Elements and/or Trust Property other than as Unit Owners of the Condominium, and hold no relation to the Trustee other than of cestuis que trustent, with only such rights as are conferred upon them as such cestuis que trustent hereunder and under the provisions of Chapter 183A.

Appears in 3 contracts

Samples: Note, Note, Declaration of Trust

Entity Created. It is hereby expressly declared that a trust and not a partnership has been created, and that the Unit Owners are cestuis que trustent and not partners or associates nor in any other relation whatsoever between among themselves and with respect to the Common Elements Areas and Facilities and/or Trust Property other than as Unit Owners of the Condominium, and hold no relation to the Trustee other than of cestuis que trustent, with only such rights as are conferred upon them as such cestuis que trustent hereunder and under the provisions of Chapter 183A.Trustees.

Appears in 1 contract

Samples: Declaration of Trust