Unit owner definition

Unit owner means the declarant or other person who 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 until that unit is conveyed to another person, in a cooperative, the declarant is treated as the owner of any unit to which allocated interests have been allocated pursuant to section 38-33.3-207 until that unit has been conveyed to another person, who may or may not be a declarant under this article.

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

• The purchasing Affordable Housing Unit Owner shall submit to the Agency within seventeen (17) days after the closing on the Unit Sale a final executed settlement statement and a copy of the deed recorded in the Land Records, including the Declaration(s) of Eligibility, Acknowledgement(s) of Covenant, and Certification of Income, Affordability, and Housing Size.

• All notices to be sent to an Affordable Housing Unit Owner shall be sent to the address on record with the District of Columbia Office of Tax and Revenue.

• The purchase price shall be an amount that is the greater of (a) the amount of the debt secured by all Mortgages recorded against the subject For Sale Affordable Housing Unit, including commercially reasonable costs and expenses, if any, incurred by Mortgagee as a result of a default and due and payable by the Affordable Housing Unit Owner under the terms of the Mortgage or (b) the Maximum Resale Price.

• Prior to obtaining any Mortgage or refinancing thereof, the Affordable Housing Unit Owner shall request from the Agency the then- current Maximum Resale Price for its For Sale Affordable Housing Unit.

• By execution of a deed for the For Sale Affordable Housing Unit, Owner shall be deemed to represent and warrant to, and agree with, the District and, if applicable, the title company, each of whom may rely on the following: that (i) the purchaser is a Qualified Purchaser pursuant to the executed Certification of Income, Affordability, and Household Size and Declaration(s) of Eligibility received by Owner, and (ii) the sale price satisfies the requirements of this Covenant.

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 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 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 or, unless otherwise provided in the lease, 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. In the case of a contract for conveyance, as defined in section 33-741, of real property, unit owner means the purchaser of the unit.

Unit owner means a declarant or other person who owns a unit