Real Estate Terms Dictionary
Amended Condominium Declaration
Definition of 'Amended Condominium Declaration'
An Amended Condominium Declaration refers to an original Condominium Declaration that has been modified in order to correct certain minor errors or to add information.
What is an Amended Condominium Declaration:
Since developers may want to make several amendments to a Condominium Declaration after it has been filed, the original declaration should include a clause that explains the conditions and process for making amendments.
All additions and changes can be seen in the amended version of the document.
Because of the importance of the Condominium Declaration, any amendment needs to have the written consent of the majority of the unit owners. The percentage of owners needed to sign an Amended Condominium Declaration varies according to the state and year the condominium building was built. Certain amendments, like increasing the number of units, require 100% owner support.
Here's a real-life example from one of the properties researched on PropertyShark:
The glossary is intended to provide real estate professionals and home buyers with a basic understanding of various specialized terms related to legal rights over a property. All terms appear in public records such as ACRIS. We do not take responsibility for the legal accuracy of the definitions provided and ask that use of these explanations in a legal setting be made only after checking with a lawyer or another specialist in the field.