Condo Conversion

Condominium Plan

A condominium plan is often associated with terms such as subdivision map, final map, or parcel map.  Each term is used to describe the drawings or maps that detail the manner in which a given property is laid out into different units, lots, or subdivisions.  These plans define the lot and unit location and boundaries and -once approved and registered by the local government- become the official plans in relation to the deeds and/or mortgages associated with the property.  Property owners employ land surveyors to prepare these plans. Once approved by the appropriate government office, the plans are recorded with the county and become a part of public record.      

Common Interest Development (CID)

The main types of Common Interest Developments (CID’s) are the condominium and the planned development.  CID’s are a type of real estate where an owner holds sole rights of ownership to a specific unit or lot while sharing rights of ownership to common areas (access roads, clubhouses, swimming pools, etc).      

Common Interest

Common interest refers to the ownership of a common area (garden, parking, storage) in a condo development that is owned by a group of individual owners as opposed to an HOA.  It is common to note the ownership rights of common interest areas in the Bylaws.     

Bylaws

Bylaws are the governing rules by which a homeowners association operates.  They are common with both incorporated and un-incorporated HOA’s.

Articles of Incorporation

Homeowners associations are required to have Articles of Incorporation if the association is incorporated with the State.  HOA’s that are not incorporated are not required to prepare Articles of Incorporation.  If you are forming an incorporated HOA it is wise to consult with an attorney to ensure your Articles of Incorporation are prepared properly and on-time.