Property Ownership
Under Florida's condominium statute (Chapter 718, F.S.), the 'Declaration of Condominium' is best described as:
AThe document that governs the relationship between unit owners and the association
BThe document that creates the condominium and defines the units, common elements, and limited common elements✓ Correct
CThe annual operating budget approved by the board
DThe rules and regulations governing resident behavior
Explanation
The Declaration of Condominium (recorded in the county's public records) is the foundational document that creates the condominium. It defines individual units, common elements (shared by all), and limited common elements (reserved for specific unit owners). The Declaration is like the condominium's 'constitution.' The By-Laws govern the association's operations.
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