Florida Cam Exam Actual Exam Newest With
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Terms in this set (391)
A Community Association is True
generally defined as real or personal
property, owned by two or more
entities, which share the
responsibility for the costs of
maintenance and administration
Purchasers of a timeshare plan have True
a ten day contract rescission period
in which to cancel the purchase
The Florida Fair Housing Act True
prohibits discrimination on the basis
of handicap
A valid Declaration of Condominium True
must contain easements for ingress
and egress to all units and the
common elements
,Compliance with the Construction False. The board should consult an attorney.
Lien Law is very technical and can
have an impact on title to property.
Therefore the board should always
consult with the manager regarding
lien issues
Corporate Charter Articles of Incorporation are also known as the
Establishes the power and authority Articles of Incorporation ( Corporate Charter)
of the community Association
Establishes the corporate entity that
is responsible for management,
maintenance and operation of the
community association
Is based in corporate law
Florida Not for Profit Corporate Act FS 617
Florida Corporate Act FS 607
, Conducting business and Community Powers that are granted in FS 617
Association affairs
Operating and managing the
association property and assets
Suing and defending against actions
Lending money for association
purposes
Acquiring Property
Entering into contracts and
purchasing items that are required
for operations and maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association
properties
Condominium Act FS 718
Form of joint ownership of real What is a condominium?
property that comprises:
Exclusive ownership of each unit
Joint undivided share of common
elements
Required membership in the
community association
Cooperative Act FS 719
Mandatory Homeowner's FS 720
Association
Mandatory contents of a declaration FS 718.104
( condos)
Complete Questions And Correct Detailed
Answers| Brand New Version!
Save
Terms in this set (391)
A Community Association is True
generally defined as real or personal
property, owned by two or more
entities, which share the
responsibility for the costs of
maintenance and administration
Purchasers of a timeshare plan have True
a ten day contract rescission period
in which to cancel the purchase
The Florida Fair Housing Act True
prohibits discrimination on the basis
of handicap
A valid Declaration of Condominium True
must contain easements for ingress
and egress to all units and the
common elements
,Compliance with the Construction False. The board should consult an attorney.
Lien Law is very technical and can
have an impact on title to property.
Therefore the board should always
consult with the manager regarding
lien issues
Corporate Charter Articles of Incorporation are also known as the
Establishes the power and authority Articles of Incorporation ( Corporate Charter)
of the community Association
Establishes the corporate entity that
is responsible for management,
maintenance and operation of the
community association
Is based in corporate law
Florida Not for Profit Corporate Act FS 617
Florida Corporate Act FS 607
, Conducting business and Community Powers that are granted in FS 617
Association affairs
Operating and managing the
association property and assets
Suing and defending against actions
Lending money for association
purposes
Acquiring Property
Entering into contracts and
purchasing items that are required
for operations and maintenance
Incurring liabilities
Borrowing funds
Mortgaging community association
properties
Condominium Act FS 718
Form of joint ownership of real What is a condominium?
property that comprises:
Exclusive ownership of each unit
Joint undivided share of common
elements
Required membership in the
community association
Cooperative Act FS 719
Mandatory Homeowner's FS 720
Association
Mandatory contents of a declaration FS 718.104
( condos)
