Reference no: EM13894447
1. John Doe owns his spacious condo in fee simple and paid off his mortgage, may John Doe have a 100 pound dog in his condo? May he keep a BBQ grill on his balcony? How can he find out the answers to these questions?
2. Carmen purchased a condo unit in a new building Downtown. Along with her unit she has one designated parking space. Is the parking space part of her condo? Or a Common Element? Or a Limited Common Element? Why?
3. Erik bought a condo unit at new building Downtown that has three amazing swimming pools. Erik decides to have a party at one of the swimming pools and he tells the other unit owners that they cannot use the pool where he is having the party. Is Erik right? Why or Why not? Who owns the swimming pool?
4. What is a Declaration of Condominum? Why is it important?
5. Sophia just signed a contract and made a deposit to buy a brand new unit in a building on Brickell from the Developer. Sophia signed the receipt of condominium document today Wednesday March 5, 2014. What is the last date that Sophia may rescind her contract and receive her full deposit back?
6. Billy just signed a contract and made a deposit to buy a condo from Mike, the previous owner of the condo. Billy singed the receipt of condominium document today Wednesday March 5, 2014. What is the last date that Billy may rescind his contract and receive his full deposit back?
7. Carla is buying a condo and wants to understand the difference between maintenance fees and assessment fees. Please explain this to Carla.
8. Please also explain to Carla the expenses that maintenance fees do not cover - ie the expenses she will have to cover.
9. What is the Florida Statute that governs condominiums?
10. What is the risk of foreclosures to a condominium? Why is this a risk?
11. Maria owns her condo in fee simple and she decides to sell her condo. Must she seek the approval of the Association? How do you know this?
12. What is a maintenance fee? What does it normally include?
13. Where would you look to find out the exact dimensions and percentage of ownership of the condo you are buying?
14. Are condo reserves important? Why?
15. Does a renter normally pay the maintenance fees to the Association? Under what situation might a renter pay maintenance fees to the condo?
16. May an Association prevent rentals in the building? How would you know this?
17. What are your favorite take-a-ways from the Guest Lecturer, Gina Chevannes?
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