What is a master deed for a condominium?

Master deed means the condominium document recording the condominium project to which are attached as exhibits and incorporated by reference the bylaws for the project and the condominium subdivision plan for the project.

What is the purpose of a master deed?

The term master deed is a deed filed by a condominium developer or converter to record all of the individual condominium units owned within a condominium development. With the master deed, the developer has to portray how the individual units are divided and where the proposed development’s common areas are located.

What is master deed declaration?

A document used by condominium developers to record the project;its division into condominium ownership;and the grant of common areas to the condominium owners. Also called the declarations,the condominium declaration,or the declaration of condominium. (Do not confuse with master’s deed.)

How do I change my master deed?

1. Determine What Constitutes Your Master Deed.
2. Discuss What is to be Amended at One or More Board Meetings.
3. Appoint a Committee to Drill Down on the Details.
4. Determine the Requirements for Approving the Amendment.
5. Contact Counsel for Analysis and Drafting of Amendment Documents.
6. Keep the Unit Owners Informed.

What is a Special Master Deed?

The Master Deed. The Master Deed is where it all starts. Condominiums are a “creature of statute.” That is, they are a special legal form of property ownership enabled only through a special law called the Massachusetts Condominium Act, General Laws Chapter 183A.

What is condominium declaration?

A declaration of condominium is a legal document that proposes the governing rules for the condominium, including statements about an owners’ association, the legal description of the condominium, and the nature and scope of the project that the condominium developer wants to build.

What is a condo agreement?

A Condo (Condominium) Lease Agreement is a form that is signed between the owner of a residential unit located in a condominium association and rents out the space to a willing tenant. The individual(s) that decide to lease the space will be obligated to uphold the rules and regulations…

What is a condominium Trust?

A condominium trust is a trust in which certain trustees are enabled and encumbered to act on behalf of the condominium (and its respective owners). Condominium owners are therefore the beneficiaries that the trustee acts on behalf of. And, the trust property is the condominium itself.