The Property Appraiser sets the value on property based on present market worth, together with buildings and improvements. If the condominium devices require approval of any mortgagee or lienholder of record and the mortgagee or lienholder of report receives a request to approve or consent to the modification to the condominium devices, the mortgagee or lienholder of report is deemed to have accepted or consented to the request unless the mortgagee or lienholder of record delivers a detrimental response to the requesting get together within 60 days after the mailing of the request.
Within the occasion any lien exists against 2 or extra models and the indebtedness secured by such lien is due and payable, the unit owner of any such unit so affected could remove such unit and the undivided curiosity in the common components appertaining thereto from such lien by payment of the proportional amount of such indebtedness attributable to such unit.
718.114 Affiliation powers.â€”An association could enter into agreements to accumulate leaseholds, memberships, and other possessory or use interests in lands or facilities reminiscent of nation clubs, golf programs, marinas, and different recreational services, no matter whether the lands or facilities are contiguous to the lands of the condominium, if such lands and facilities are meant to provide enjoyment, recreation, or different use or profit to the unit house owners.
The assertion of evaluation account issued by the association to a unit owner below subsection (i) of Section 18 of this Act, and the disclosure statement issued to a potential purchaser beneath Section 22.1 of this Act, shall state the amount of the assessments and the legal charges, if any, required by subdivisions (g)(1) and (g)(four) of Section 9 of this Act.
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