Unit owner definition
Unit owner means a declarant or other person that owns a unit, or a lessee of a unit in a leasehold common interest community whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the common interest community, but does not include a person having an interest in a unit solely as security for an obligation. In a condominium or planned community, the declarant is the owner of any unit created by the declaration. In a cooperative, the declarant is treated as the owner of any unit to which allocated interests have been allocated until that unit has been conveyed to another person.
Unit owner means a declarant or other person who owns a unit, or a lessee of a unit in a leasehold condominium whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the condominium, but does not include a person having an interest in a unit solely as security for an obligation.
Unit owner means the person or persons owning a unit in fee simple and
Examples of Unit owner in a sentence
In the event of default, monetary penalties may be assessed by the City against the Active Employment Unit owner in an amount equal to the number of days that the Active Employment Unit is not occupied by an Active Employment Household multiplied by $100 per day (the “Daily Rate), commencing on the date of the City’s written notice of default and continuing thereafter until the date that the default is cured.
More Definitions of Unit owner
Unit owner means the person or persons whose estates or interests, individually or collectively, aggregate fee simple absolute ownership of a unit.
Unit owner means one or more persons who own a condominium unit, or, in the case of a
Unit owner means a declarant or other person who owns a unit, a lessee under a proprietary lease, or a lessee of a unit in a leasehold common interest community whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the common interest community, but does not include a secured party. In a common interest community, the declarant is the unit owner of a unit until that unit has been conveyed to another person.
Unit owner means the person or persons whose estates or interests, individually or collectively, aggregate fee simple absolute ownership of a unit, or, in the case of a leasehold condominium, the lessee or lessees of a unit whose leasehold ownership of the unit expires simultaneously with the lease described in item (x) of this Section.
Unit owner or “owner of a unit” means a record owner of legal title to a condominium parcel.
Unit owner means a declarant or other person who owns a unit
Unit owner also means the vendee, not the vendor, of a unit under a recorded real estate contract.