Common Surplus definition

Common Surplus means the excess of all receipts of the Association collected on behalf of the Association, including, but not limited to, Assessments, rents, profits and revenues on account of the Common Elements, over the amount of Common Expenses.

Common Surplus means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses.

Common Surplus means the excess of all receipts of the Association, including but not limited to Assessments, rents, profits and revenues over the common expenses.

Examples of Common Surplus in a sentence

• The shares in the Common Elements, Common Expenses and Common Surplus appurtenant to the Units that continue as part of the Condominium shall be adjusted to distribute the shares in the Common Elements, Common Expenses and Common Surplus among the reduced number of Unit Owners (and among reduced Units).

• The changes in Units, in the Common Elements and in the ownership of the Common Elements and share in the Common Expenses and Common Surplus that are effected by the taking shall be evidenced by an amendment to this Declaration of Condominium that is only required to be approved by, and executed upon the direction of, a majority of all Directors of the Association.

• The undivided share in the Common Elements and Common Surplus which is appurtenant to a Unit, shall not be separated therefrom and shall pass with the title to the Unit, whether or not separately described.

• The undivided percentage interest in the Common Elements and Common Surplus and the share of the Common Expenses of the Condominium of the respective two and three bedroom classes of Units as a whole shall be based upon the total square footage of each separate class of residential Unit (i.e., two bedroom or three bedroom) in uniform relationship to the total square footage of each other separate class of residential Unit.

• The appurtenant share in the Common Elements and Common Surplus, and the exclusive right to use all Limited Common Elements appurtenant to a Unit, except as elsewhere herein provided to the contrary, cannot be conveyed or encumbered except together with the Unit.

More Definitions of Common Surplus

Common Surplus means the amount by which common assessments collected during any period exceed common expenses.

Common Surplus means the excess of all receipts of the corporation over the expenses of the corporation; (“excédent commun”)

Common Surplus means the excess of all receipts of the association—including, but not limited to, assessments, rents, profits, and revenues on account of the common areas—over the amount of common expenses.

Common Surplus means the excess of all common receipts over all common expenses.

Common Surplus means the excess of all the receipts of the Association including, but not limited to, assessments, rents, profits and revenues over the amount of the Common Expenses.

Common Surplus means the excess of all receipts of the Association arising out of the Common Elements over the amount of the Common Expenses.

Common Surplus means the excess of all common receipts