Condominium Common Area definition
Condominium Common Area means the volumes of airspace described in the Condominium Plan, which shall be owned by owners in the Project described in a Condominium Plan as tenants-in-common. The Condominium Common Area constitutes the “undivided interest-in-common in a portion of the real property,” in accordance with California Civil Code Section 4125. Condominium Common Area is not Association Property. The undivided fee simple interest in the Condominium Common Area is one-seventh (1/7th), and shall be held by the Low Income Households who have acquired a fee interest in a Condominium.
Condominium Common Area means that portion of the Community developed as a Condominium Project that is owned in common by the Owners of the Condominiums therein as more particularly described in the Supplementary Declaration encumbering such Condominium Project.
Examples of Condominium Common Area in a sentence
Tenant acknowledges and agrees that the size, location and nature of any Condominium Common Area may be changed from time to time in accordance with the Condominium Documents.