Property Ownership
In Colorado, a 'condominium declaration' contains:
AA. Only the building's floor plans
BB. The legal description of each unit, definition of common elements, allocation of ownership percentages, and restrictions on use✓ Correct
CC. Only the HOA rules and regulations
DD. Only the financial statements of the HOA
Explanation
A condominium declaration (also called a master deed) is the primary governing document recorded with the county that creates the condominium. It includes: legal descriptions of each unit and common elements, each owner's undivided ownership percentage of common elements, use restrictions, assessments, and maintenance responsibilities. The declaration, bylaws, and rules together form the condominium's governing documents.
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