Condominium Conversion definition

Condominium Conversion means the filing or recording with the applicable county clerk or county recorder, or other applicable state, municipal or local governmental entity or agency, of any document providing for the conversion of the Property to a Condominium Project.

Condominium Conversion means the conversion of an existing building to a condominium property which was not developed for that purpose. Such conversion shall require a new occupancy permit in compliance with these Codified Ordinances and applicable State law for each condominium unit. (Ord. 1987-125. Passed 11-16-87.)

Condominium Conversion means the filing or recording of any document providing for the conversion of the Property to a form of condominium ownership under any state or local statute or ordinance.

Examples of Condominium Conversion in a sentence

• The Condominium Conversion Application Checklist identifies all the items necessary to complete the condominium conversion application.

• Apartment projects and mobile home parks proposed for conversion to condominium ownership are subject to Sonoma’s Condominium Conversion regulations (Section 19.65.030 of the Development Code).

• Be sure to follow the application instructions described in the Condominium Conversion Guidelines and use the Condominium Conversion Application Checklist to ensure the appropriate forms, number of copies, and submittal order is correct.

• The City also has a bonus density program that promotes the development of affordable units in market rate developments and a Condominium Conversion ordinance that works to slow the conversion of rental units to ownership units.

• The current fee for a Condominium Conversion can be found on the SFPW website (Fee Schedule).

More Definitions of Condominium Conversion

Condominium Conversion means that both of the following have occurred as to a Residential Property: (a) notice of the conversion of such Property to a condominium form of ownership has been sent to the tenants of such Property if required by Applicable Law, and (b) a declaration of condominium or other similar document with respect to such Property has been filed with the applicable Governmental Authority.

Condominium Conversion shall have the meaning given to such term in Section 8.1(o) hereof.

Condominium Conversion means the conversion of the Property to a condominium regime of ownership in accordance with the Building Loan Agreement and this Agreement.

Condominium Conversion. As defined in the Loan Agreement.

Condominium Conversion means the conversion of apartments, or other rental units, into ownership property that consist of an undivided interest in common in a portion of real property coupled with a separate interest within the boundaries of the dwelling unit.

Condominium Conversion means the conversion of ownership of any units in a residential housing building consisting of two or more units or the conversion of any residential housing building that is or was previously occupied as a rental residential unit or building to single ownership in which a residential unit or the residential building may be sold individually. Notwithstanding the foregoing, the Parties acknowledge that the Project Site is intended to include an area proposed for single family residential development (i.e., for sale townhomes fitting with the urban character of the Development).

Condominium Conversion means the process of converting an existing, residential, rental Apartment to Condominium ownership and includes the process of redividing an existing residential rental Condominium Unit into one or more Condominium Units in accordance with the Act;