• Section 98 Agreement Condo

    Posted on April 12, 2021 by in Allgemein

    Condominium owners need to understand that even if they own their own unit, they do not have the same rights and freedoms as condominium owners. Condominium owners are required by authorities and regulations as well as by law. In addition to the requirements in point (c), an agreement under Section 98 should stipulate that the unit owner is responsible for removing the additive upon notification from the company and that the addition is subject to inspections. An agreement should provide that construction is completed within a specified time frame and that, if the type of construction warrants it, it may require building permits, electrical and sanitary permits and, depending on the extent of the work, provide that a deposit is paid by the owner of the unit and that it is held by the company for the construction period. To conclude the agreement, you should get your lawyer with the following as soon as possible: In Noguera, the owners of Unit 210 wanted to acquire the neighbouring unit (unit 211) provided they could make an opening between the two units. It is interesting to note that the owners of 210 and 211 were on the board of directors. The Board of Directors met and agreed to authorize this amendment, with certain conditions as to how the opening should be constructed. This work required some modifications to the common elements. Given that this company has a long history of non-concluding Section 98 agreements with its owners, this case was no exception.

    A Section 98 agreement is a valuable tool for any real estate administrator or council who wants to ensure that a common-going unit owner`s installation does not endanger the occupants of the condominium, their structural integrity or value, or that the business is subject to additional insurance costs, maintenance and/or repair obligations. A well-developed Section 98 agreement will clarify, attribute and minimize the risk. The Section 98 agreement will not enter into force until all of the steps described above and the agreement against ownership of the owner`s unit have been registered. This means that even if the company signed the agreement and passed all the other steps described above, if the co-ownership lawyer did not register the agreement against the ownership of the unit, the agreement is not effective and does not protect the company. You should make sure that your lawyer has prepared the agreement and is responsible for the registration. Costs should be borne by the unit owner. The owner had argued that: the bridge was necessary because the condition of the yard was uncertain, muddy and a feast for the eyes; The bridge is removed before the aircraft is sold. and the owner of the adjacent unit was not required to enter into a Section 98 agreement for a similar bridge. The owner`s points were found irrelevant by the court. The court found that the bridge was a maintenance and repair amendment that would result in possible liability, which is why a Section 98 agreement was required.