The Advantages And Features Of Ohio Condominium Law
The Ohio Condominium Law was introduced on August 19
, 1963 to establish the relationships, remedies and rights to regulate condominium developments in Ohio. This law should be adhered has to be followed by everyone living in a condominium development for proper functioning of the organization. Let us take a detailed look at the various features of this law.Condominium property means the all personal and real properties whether these are lands, water bodies in the particular zone, roads, entrances or buildings etc. Each unit of the condominium property is taken as real property.
A unit owner has total rights on all the resources which come under his or her boundaries or walls, while resources out of boundaries are open for everyone staying in the condominium. Whether these are highway, streets, entrances or water bodies, everyone has equal right to access them when they are living in that particular condominium development.
Various expenses linked to the recreation activities, administration, operation, repair, maintenance or the replacements of common elements are called common expenses. These common expenditures have to be equally shared by all the units of the condominium development in accordance with Ohio Condominium Law.
Various disputes linked to parking, pets, and expenses or maintenance related to various resources can be resolved using the rules and regulation of condominium law. This law is helpful in assigning the duties fairly. It helps in deciding which work should be done by whom and how the resources should be utilized properly.
Dispute in the condominium development can be resolved by non judicial or judicial ways. A notice can be issued to the person who is found guilty of doing damages to common elements. Sometimes penalty can also be imposed on the person if he or she continues with the same harming activity. Open board meetings can prove to be an useful way for resolving some problems.
A convertible unit means an unit which can be converted into one or more units. This law is helpful in the conversion of the convertible units. For a conversion, an owner should execute and prepare amendments specifying the proportionate of share or common surplus and the common expenses. An unit is treated as a single unit until it is not converted.
The Ohio Condominium Law is an important tool for reallocation or relocation of the boundaries or deciding the allocation of the undivided parts or areas. The owner of the unit adjoining an undivided unit can submit an application to the board of directors for the reallocation or relocation of the unit. He or she also has to provide suitable reasons along with the application.
by: Barb Rasmussen.