qacrawler
07-05-2006, 01:40 AM
Most of the people who ask this question are usually asking about how many condominium apartments can be built on the property. However, the CPR (Condominium Property Regime) law does not regulate the density or zoning matters. Each county’s building, planning, and zoning ordinances or codes provide for the regulation of these matters. The county officials are thus the more appropriate people to make these inquiries of. However, when the inquiry is made, the inquiry should not be asked, “Can I CPR this property?” The answer you would more than likely receive if you phrase the question in that way, would more than likely be, “Call the Real Estate Commission about this.” Instead, the inquiry might be phrased, “I have a property with x amount of square feet and zoned x, how many structures can I have on this property and are there any restrictions or conditions?”
Please review the Real Estate Branch’s “So You Want to Go Condo?” brochure for more information and contact addresses and phone numbers.
CPRs are a form of ownership of real property and governing process created when the real property becomes a condominium. It is created whenever the sole owner or all of the owners including all of the lessees of a property execute and file the declaration, bylaws, condominium map including floor plans and master deed or lease with the Bureau of Conveyance or Land Court.
After creation or simultaneously with creation, the following is considered. The Commission and the Real Estate Branch do not approve or disapprove CPRs. Prior to offering for sale apartments in a CPR, the developer is required to register the condominium project with the Commission and cause issuance of an effective date for the initial developer's public report. The developer's public report is a material fact disclosure statement to prospective purchasers. The Commission, through the Staff and retained consultants, by means of reviewing the proposed developer's public report and supporting documentation submitted by the developer, makes an educated assessment whether the developer's public report adequately discloses all material facts about the project. The Commission is required to issue an effective date, when in addition to other requirements being satisfied, the developer's public report adequately discloses all material facts.
Please review the Real Estate Branch’s “So You Want to Go Condo?” brochure for more information and contact addresses and phone numbers.
CPRs are a form of ownership of real property and governing process created when the real property becomes a condominium. It is created whenever the sole owner or all of the owners including all of the lessees of a property execute and file the declaration, bylaws, condominium map including floor plans and master deed or lease with the Bureau of Conveyance or Land Court.
After creation or simultaneously with creation, the following is considered. The Commission and the Real Estate Branch do not approve or disapprove CPRs. Prior to offering for sale apartments in a CPR, the developer is required to register the condominium project with the Commission and cause issuance of an effective date for the initial developer's public report. The developer's public report is a material fact disclosure statement to prospective purchasers. The Commission, through the Staff and retained consultants, by means of reviewing the proposed developer's public report and supporting documentation submitted by the developer, makes an educated assessment whether the developer's public report adequately discloses all material facts about the project. The Commission is required to issue an effective date, when in addition to other requirements being satisfied, the developer's public report adequately discloses all material facts.
