Real Estate 2.8

the time-share form of ownership or use can be acquired by a

any of the above

The rights of a condominium owner are defined by the: a. management agreement b. bylaws and condominium declaration c. bylaws and the corporate charter d. Public Offering Statement

bylaws and the condominium declaration

a woman owns an apartment building which is losing money. her accountant tells her she could make a profit if she sells the apartments as condominiums. what would be the proper method to accomplish this?

conversion

density zoning restricts lot sizes

false

condominium owners come under which of the following

horizontal property act

the owner of a cooperative unit

owns stock in a non-profit cooperation

The owner of a unit within a cooperative gains the right to occupy the unit through a

proprietary lease

a cooperative owner has exclusive use of her unit by reason of a

proprietary lease

a condominium advertises a pool and tennis court, but they have not yet been completed. which is correct

this is allowed if they are labeled not yet completed and a completion date is specified

time-shares are somewhat like leases

true

should a potential buyer of a condominium be particularly concerned about the financial condition of the homeowners association

yes because if there inadequate reserves and repairs need to be made it could result in assessments