Community Association Manager Licensing Questions And Answers Well Illustrated.

x
x
x
x
x
x
x
x
x
x
x
x


Community Association Manager Licensing
x x x

x


Questions And Answers Well Illustrated.
x x x x

x
x
x
x
x
x
x

Community xAssociation x(Definition) x- x xcorrect xanswer. x xa xresidential xhomeowners'
xassociation xin xwhich xmembership xis xa xcondition xof xownership x(mandatory) xof xa xunit

xin xa xplanned xunit xdevelopment, xor xof xa xlot xfor xa xhome xor xa xmobile xhome, xor xof xa

xtownhouse, xvilla, xcondominium, xcooperative, xor xother xresidential xunit xwhich xis xpart xof

xa xresidential xdevelopment xscheme xand xwhich xis xauthorized xto ximpose xa xfee

x(assessment) xwhich xmay xbecome xa xlien xon xthe xparcel. x
x

Assessment x- x xcorrect xanswer. x xThe xamount xof xmoney xa xunit xor xparcel xowner
xpays xfor x
x
their xshare xof xthe xexpenses xof xthe xcommunity xassociation. xThe xstatute
xallows
x
association xto xfile xan xassessment xlien xagainst xthe xunit xor xparcel xif
xunpaid.
x

Condominium x- x xcorrect xanswer. x xthat xform xof xownership xof xreal xproperty xcreated
xpursuant xto xthis xchapter x(Section x718), xwhich xis xcomprised xentirely xof xunits xthat

xmay xbe xowned xby xone xor xmore xpersons, xand xin xwhich xthere xis, xappurtenant xto

xeach xunit, xan xundivided xshare xin xcommon xelements x
x

What xdoes xa xcondo xassociation xown? xWhat xis xdeeded xin xthe xassociation's xname? x- x
xcorrect xanswer. x xNothing. xNOTHING. xThe xassociation xis xresponsible xfor xthe

xinsurance xand xmaintenance, xbut xit xhas xno xdeed xin xits xname. x
x

Who xowns xthe xcommon xelements xin xa xcondominium xassociation? x- x xcorrect xanswer.
x xAll x
x
the xowners xown xcommon xelements
xjointly.
x

Cooperative x(definition) x- x xcorrect xanswer. x xthat xform xof xownership xof xreal xproperty
xwherein xlegal xtitle xis xvested xin xa xcorporation xor xother xentity xand xthe xbeneficial xuse

xis xevidenced xby xan xownership xinterest xin xthe xassociation xand xa xlease xor xother

xmuniment xof xtitle xor xpossession xgranted xby xthe xassociation xas xthe xowner xof xall xthe

xcooperative xproperty. x
x

,In xa xcooperative, xhow xmany xdeeds xare xthere? x- x xcorrect xanswer. x xThere xis xone
xdeed. x


Title xto xall xthe xreal xestate xis xowned xby xthe xcorporation. xEach xshareholder
xreceives xa x


Shareholder's xCertificate xas xevidence xof xtheir xcapital xcontribution xto xthe
xcorporation.
x

In xwhat xtype xof xcommunity xassociation xwould xan xowner xhave xa xshareholder's
xcertificate? x- x xcorrect xanswer. x xCooperative. xOwner xhas xa xshareholder's xcertificate xif

xthey xare xpart xof xthe xcooperative. x
x

Shareholder's xCertificate x(definition) x- x xcorrect xanswer. x xWhat xis xthe xevidence xof xan
xowner's xcapital xcontribution xto xthe xcooperative xcorporation. xThis xentitles xthe xowner

xto xsign xa xProprietary xLease xwith xthe xcorporation xfor xthe xexclusive xuse xof xthe xair

xspace xfor xtheir xunit xor xpad. x
x

Proprietary xLease x(definition) x- x xcorrect xanswer. x xgives xan xowner x(in xa xcoop)
xthe x
x
exclusive xuse xof xthe xair xspace xfor xtheir xunit xor
xpad.
x

Homeowners' xAssociation x(definition) x- x xcorrect xanswer. x xa xFlorida xcorporation
xresponsible xfor xthe xoperation xof xa xcommunity xor xa xmobile xhome xsubdivision xin

xwhich xthe xvoting xmembership xis xmade xup xof xparcel xowners xor xtheir xagents, xor xa

xcombination xthereof, xand xin xwhich xmembership xis xa xmandatory xcondition xof xparcel

xownership, xand xwhich xis xauthorized xto ximpose xassessments xthat, xif xunpaid, xmay

xbecome xa xlien xon xthe xparcel. xThe xterm x"homeowners' xassociation" xdoes xnot xinclude

xa xcommunity xdevelopment xdistrict x(CDD) xor xother xsimilar xtaxing xdistrict xcreated

xpursuant xto xstatute. x
x

Who xowns xdeeds xin xan xHOA? x- x xcorrect xanswer. x xEach xparcel xowner xhas xa xdeed
xto xtheir x
x
individual xparcel. xThe xcorporation xhas xcommon xareas xor xproperty xdeeded xin
xthe
x
corporation's
xname.
x

Who xowns xthe xdirt xon xa xparcel xin xan xHOA? x- x xcorrect xanswer. x x The xhomeowner
xowns xthe x
x
dirt xon xTHEIR xparcel. xHOA xowns xthe xdirt xon xCOMMON
xparcels.
x

Chapter x607 x(definition) x- x x correct xanswer. x x Florida xFor xProfit xCorporate xAct xthat
xgoverns x
x
For xProfit

xcorporations
x

,Chapter x617 x(definition) x- x xcorrect xanswer. x xFlorida xNot xFor xProfit xCorporate xAct
xthat x
x
governs xNot xFor xProfit

xcorporations
x

Statute x718 x- x xcorrect xanswer. x xGoverns xCondominiums x
x

Statute x719 x- x xcorrect xanswer. x xGoverns xCooperatives x
x

Statute x720 x- x xcorrect xanswer. x xGoverns xHomeowners' xAssociations x
x

Statute x721 x- x xcorrect xanswer. x xGoverns xTimeshare xPlans x
x

Common xElements x(definition) x- x x correct xanswer. x x the xportions xof xthe
xcondominium x
x
property xnot xincluded xin xthe
xunits
x

Examples xof xCommon xElements x- x xcorrect xanswer. x x drywall, xplumbing, xelectrical
xinside x
x
the xwalls, xclubhouse, xpool, xstreets,
xetc.
x

In xwhich xtype xof xcorporation x(community xassociation) xwould xthe xterm
x"common x
x
elements" xbe xused? x- x xcorrect xanswer. x
xCondominium
x

Limited xCommon xElements x(definition) x- x xcorrect xanswer. x xthose xcommon xelements
xwhich xare xreserved xfor xthe xuse xof xa xcertain xunit xor xunits xto xthe xexclusion xof xall

xother xunits x(ie. xassigned xparking xspace, xprivate xbalcony, xprivate xelevator, xetc.) x
x

Examples xof xLimited xCommon xElements x- x xcorrect xanswer. x xbalcony, xprivate
xelevator, x
x
patio xconnected xto xa xunit, xassigned xparking xspace, xstorage xunit, xboat xslip,
xetc.
x

Common xAreas x(definition) x- x xcorrect xanswer. x xthe xportions xof xthe xcooperative
xproperty x
x
not xincluded xin xthe xunits x(ie. xclubhouse, xpool,
xstreets)
x

For xwhat xtype xof xassociation xis xthe xterm x"Common xAreas" xused? x- x xcorrect
xanswer. x x
x
Cooperative.
x

Limited xCommon xAreas x(definition) x- x xcorrect xanswer. x xthose xcommon xareas xwhich
xare xreserved xfor xthe xuse xof xa xcertain xcooperative xunit xor xunits xto xthe xexclusion xof

xother xunits x(ie. xbalcony, xprivate xelevator, xpatio xconnected xto xthe xunit, xetc.) x
x

, Examples xof xLimited xCommon xAreas x- x xcorrect xanswer. x xbalcony, xprivate xelevator,
xpatio x
x
connected xto xthe xunit, xassigned xparking xspace, xstorage xunit, xboat xslip,
xetc.
x

Association xProperty x(definition) x- x xcorrect xanswer. x xall xreal xproperty xwithin xa
xcommunity x


which xis xowned xor xleased xby xan xassociation xor xdedicated xfor xuse xor xmaintenance
xby xthe x
x
association xor xits

xmembers.
x
Short xVersion: xproperty xshared xby xall xthe xowners xin xa xhomeowners' xassociation
x(also
x
referred xto xas xcommon xproperty xor xcommon
xarea)
x

Examples xof xAssociation xProperty x(common xareas xor xcommon xproperty) x- x

xcorrect x
x
answer. x xPool, xclubhouse, xstreets, xpark, xentrance xfeature,
xetc.
x
x
Who xowns xthe xpaint, xtile, xand xcarpet xin xa xcondominium? x- x xcorrect xanswer.
x xThe


homeowner. xThe xhomeowner xowns xthe xair xspace xfrom xthe xdrywall xand xfloor
xinwards.
x

Who xowns xthe xdrywall xand xfloor xbaseboards/concrete xin xa xcondominium? x- x xcorrect
xanswer. x xEVERYONE. xEvery xowner xin xthe xcondo xowns xthese xcommon xelements. x
x

In xa xCooperative, xwhat xdeeds/certificates xdoes xan xowner xpossess? x- x xcorrect
xanswer. x xTheir xbuilding xdeed x(ie. xmobile xhome xdeed), xShareholders xCertificate x(for

xproof xthey xmade xcapital xcontribution), xand xtheir xProprietary xLease x(so xthey xhave xthe

xright xto xtheir xspecific xspace) x
x

If xsomeone xlives xin xa xcooperative xcommunity, xbut xisn't xa xShareholder, xwhat xdeeds xto
xthey xpossess? x- x xcorrect xanswer. x xTheir xbuilding xdeed x(ie. xmobile xhome xdeed), xand

xa xrental xagreement xwith xthe xcooperative xso xthey xRENT xtheir xspace xthat xtheir xmobile

xhome xis xon. xOr xthey xRENT xthe xspace xtheir xunit xis xin/on. x
x

Voting xInterest x(definition) x- x xcorrect xanswer. x xAn xowner/member xin xan xassociation. x
x

What xgoverning xdocuments xcan xbe xchanged xto xallow xassociations xto ximpose xrules
xor x
x
regulations xfor xthe xuse xof xcommon xelements/areas? x- x xcorrect xanswer. x xusually
xthe
x
Proprietary xLease xor

xBylaws