Blocks & Lots

What is a Condo Declaration?

A Condo Declaration is a legal document that lays out what common and private spaces were built and who owns them. It also details the plan for how the building will be operated when control is transferred from the developer to the condo owners.

The ‘condo dec’, as it is often called, operationalizes the plan provided to buyers in an offering plan. The offering plan sets forth what events must take place for this change of control to happen.

Whereas the offering plan is a disclosure document that guides the sales process, the condo dec is a document that describes the operations of the building over the life of the condo.

The condo dec details the block and lot, address, unit number, size, square footage, common interest percentage, and limited common interests.

Condo dec amendments update the previously submitted document with any changes that may have occurred. If units were acquired and combined by a purchaser, the amended condo dec will update the unit count, as well as the size and common interest of the combined units.

The condo dec also details the common elements of the building, like the lobby and outdoor areas, as well as limited common elements, such as balconies, terraces, and patios.

Easements are also detailed. Easements give, among other things, residents the rights to pass through the building.

Finally, the condo dec includes a number of important schedules:

  • Description of the Land
  • Unit Schedule
  • Bylaws & House Rules

The Bylaws and House Rules set forth the rules for the operation of the condo board, how unit owners vote, how the building is maintained, how common charges are applied, how the finances of the building are managed, as well as other important operational matters like the handling of insurance and indemnification.

Sample Condo Declaration Table of Contents

Sample Condo Declaration

Condo-Declaration

Link to the condo declaration shown above:
https://blocksandlots.com/wp-content/uploads/2020/11/Condo-Declaration.pdf

For further reading see:
https://www.nysenate.gov/legislation/laws/RPP/339-N

Top image courtesy of Charlie West.

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