1,3,4,5

HELPFUL WEBSITES Condominiums and Cooperatives 663 dominiums Buy a Condominium Wation on how to buy, insure, and inspect a con- can be found on the eHow Web site at http:// Good informatie mim can be www.com Cooperatives The National As contains inform Most information is available only to members, but some free information is available at http//www.coophousing org. A good article on "How Housing Cooperatives Work can be found on the HowStuff Works Web site at http://money howstuffworks.com ional Association of Housing Cooperatives Web site information on buying and managing a cooperative KEY TERMS ment on areas condominium condominium declaration condominium plat cooperative limited common area rescission time-share dominium association REVIEW QUESTIONS What is the difference between a common area and limited common area in a condominium? Give an example of each. 3. How are common area expenses paid for in a condominium? 4. What is a cooperative? 5. How does a cooperative differ from a condominium? What information is contained in a condominium declaration? CASE PROBLEM You are a paralegal employed by a law firm who is representing a purchaser of a condominium unit. You have been asked to assist an attomey in the closing of the sale. What documentation in regard to the condominium would you request from the seller What issues do you want answered from the seller or from review of the condominium documentation? PRACTICAL ASSIGNMENTS 1. Research your own state's condominium act. How does your state's requirements for a condominium declaration differ from those contained in the condominium declaration statute shown as Exhibit 17-1 at the end of this chapter? How does your state's requirements for a condominium plat differ from those in the statute shown as Exhibit 17-3 at the end of this chapter? 2. Review the condominium declaration shown as Exhibit 17-2 at the end of this chapter in conjunctic with your state's condominium act. Does the declar satisfy all requirements of your state's condominium act? If not, list the areas in which the condominium declaration is deficient or areas that would need to added to the condominium declaration ADDENDUM Exhibit 17-4 Articles of Incorporation Exhibit 17-5 Condominium Association Bylaws abit 17-1 State Condominium Act Requirements for Declaration abit 17-2 Condominium Declaration mium Act Requirements for HELPFUL WEBSITES Condominiums and Cooperatives 663 dominiums Buy a Condominium Wation on how to buy, insure, and inspect a con- can be found on the eHow Web site at http:// Good informatie mim can be www.com Cooperatives The National As contains inform Most information is available only to members, but some free information is available at http//www.coophousing org. A good article on "How Housing Cooperatives Work can be found on the HowStuff Works Web site at http://money howstuffworks.com ional Association of Housing Cooperatives Web site information on buying and managing a cooperative KEY TERMS ment on areas condominium condominium declaration condominium plat cooperative limited common area rescission time-share dominium association REVIEW QUESTIONS What is the difference between a common area and limited common area in a condominium? Give an example of each. 3. How are common area expenses paid for in a condominium? 4. What is a cooperative? 5. How does a cooperative differ from a condominium? What information is contained in a condominium declaration? CASE PROBLEM You are a paralegal employed by a law firm who is representing a purchaser of a condominium unit. You have been asked to assist an attomey in the closing of the sale. What documentation in regard to the condominium would you request from the seller What issues do you want answered from the seller or from review of the condominium documentation? PRACTICAL ASSIGNMENTS 1. Research your own state's condominium act. How does your state's requirements for a condominium declaration differ from those contained in the condominium declaration statute shown as Exhibit 17-1 at the end of this chapter? How does your state's requirements for a condominium plat differ from those in the statute shown as Exhibit 17-3 at the end of this chapter? 2. Review the condominium declaration shown as Exhibit 17-2 at the end of this chapter in conjunctic with your state's condominium act. Does the declar satisfy all requirements of your state's condominium act? If not, list the areas in which the condominium declaration is deficient or areas that would need to added to the condominium declaration ADDENDUM Exhibit 17-4 Articles of Incorporation Exhibit 17-5 Condominium Association Bylaws abit 17-1 State Condominium Act Requirements for Declaration abit 17-2 Condominium Declaration mium Act Requirements for