FHA and the GSEs have totally different guidelines for the sale of a condominium versus a stand-alone single-family home. Simultaneously with the recording of the amended plat, the developer in the case of an add-on condominium, or the President of the board of managers or other officer in different situations authorized on this Act shall execute and file an amendment to the declaration setting forth all pertinent points of the transaction including the reallocation or adjustment of the widespread interest.
Bearing partitions, bearing columns, or some other apparatus lies partially within and partially outside of the designated boundaries of a unit, any portions thereof serving only that unit shall be deemed a part of that unit, while any parts thereof serving a couple of unit or any portion of the widespread parts shall be deemed a part of the common parts.
August 30, 1984 or encumbrances executed subsequent to August 30, 1984 which are neither bonafide first mortgages nor belief deeds and which encumbrances include an announcement of a mailing deal with in the State of Illinois where notice may be mailed to the encumbrancer thereunder, if and at any time when and as often as the supervisor or board of managers shall ship, by United States licensed or registered mail, return receipt requested, to any such encumbrancer at the mailing handle set forth in the recorded encumbrance a statement of the quantities and due dates of the unpaid frequent expenses with respect to the encumbered unit, then, unless in any other case provided in the declaration or bylaws, the prior recorded encumbrance shall be topic to the lien of all unpaid frequent expenses with respect to the unit which become due and payable inside a period of 90 days after the date of mailing of every such discover.
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