Association of apartment owners definition
Examples of Association of apartment owners in a sentence
Any such purchaser or transferee shall be entitled to a statement from the Association of apartment owners setting forth the amount of the unpaid assessment against the vendor or transferor and such purchaser or transferee shall not be liable for, nor shall the apartment sold or transferred, be subject to a charge for any unpaid share of common expenses against such apartment accrued prior to such sale or transfer in excess of the amount set forth in such statement.
The fee owners of the apartments in Westcliff South shall constitute the Association of apartment owners (hereinafter referred to as “ASSOCIATION”).
The Promoter shall be entitled to transfer the balance Township Corpus Fund to such body or Association of apartment owners or Society as the Promoter may nominate and whereupon the Promoter shall be absolved from their liability in respect of the balance of the said Township Corpus amount.
The operational costs/charges of the said recreation zone shall form either part of the common charges and expenses of the Residential Common Areas or may be charged separately on some suitable basis including pay by use basis, as may be so decided by the Owner at its sole discretion or by the Association of apartment owners upon its formation as the case may be.
The policy of insurance shall be written on the property in the name of the Association of apartment owners as trustee for each of the apartment owner in the percentage specified in the declaration and the premium payable under such policy of insurance shall be common expenses.