Limited common elements,
Definition of Limited common elements:
Limited common elements are defined as those aspects of a shared condominium complex which are part of a condominium, but which are not considered to be the sole property of the tenant. Limited common elements can include elements that are directly connected to individual condominiums such as outer doors, windows, and balconies. They can also include amenities which service all community residents such as driveways, garages, elevators, clubhouses, swimming pools, and boat slips.
Limited common elements are the properties of a condominium unit that are assigned to the unit, but are considered to be the property of the condominium community association and not the tenant.
A physical space located within a property owned by several entities considered common but its use is limited to only the residents of a specific unit. Balconies, assigned parking areas and patio areas are some of these elements. In a Condominium Association individual owners own the space inside the walls, roof, and floor of their unit and everything outside of that space is owned by all the condominium owners and is referred to as common elements.
How to use Limited common elements in a sentence?
- Laws governing limited common elements may vary from state to state.
- Examples of limited common elements include windows, balconies, driveways, elevators, clubhouses, and swimming pools.
- Limited common elements are the properties of a condo that are assigned to the unit, but considered community property and not the tenant’s.
Meaning of Limited common elements & Limited common elements Definition