Property Management
In West Virginia, which document governs the rights and obligations of condominium unit owners within the condominium association?
AThe management agreement only
BThe Declaration, Bylaws, and Rules and Regulations collectively✓ Correct
COnly the deed to the individual unit
DState zoning ordinances
Explanation
Condominium governance is established by: (1) the Declaration (recorded master deed establishing the regime), (2) Bylaws (governing association operations), and (3) Rules and Regulations (day-to-day operational rules). Together these form the governing documents.
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- A condominium association in West Virginia that levies a special assessment on all unit owners is doing so to:Property Ownership
- Under the West Virginia Condominium Act, which document establishes the condominium regime and is recorded with the county clerk?Property Ownership
- In West Virginia, when a condominium unit is purchased, the unit owner receives a deed to:Property Ownership
- A West Virginia condominium association assesses each unit owner monthly fees to cover common area maintenance. These fees are called:Property Management
- Under West Virginia's WV Condominium Act, a condominium unit owner owns:Property Ownership
- A West Virginia deed recorded in the wrong county does NOT provide:Escrow & Title
- A West Virginia condominium homeowner's association (HOA) has the power to:Property Management
- A West Virginia deed that has not been recorded is valid between the parties to the deed but:Escrow & Title
Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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