Limited Common Element
Started by soyiuz
almost 14 years ago
Posts: 38
Member since: Dec 2011
Discussion about
I know what it is, more or less. Where can I find the legal definition, as it pertains to the City / State of New York? Thanks for the help, you rock!
Limited common elements are those portions of a building that are enjoyed by a specific unit (i.e. a balcony that is accessible to a specific unit/outdoor area that can only be accessed by the Penthouse/outdoor plaza adjoining a unit) and/or commercial condo unit owners.
It is usually set up to spread the maintenance of a major catastrophe amongst all the unit owners. Let's take a rooftop that is the "PH" unit owners' personal outdoor space but is in fact the "roof" of the entire building. If it not maintained properly then the entire building is at risk.
In addition, there can be any number of easements that allow the mgmt agent to maintain/inspect/ etc.
Pertains to city, huh? Common Elements would denote a common ownership... as far as I can tell except for public/private plazas I don't know of property that can be both owned by a public/private entity... although utilities have as of right many easements to access their equipment.....
Thank you for the response, w67! I am however looking for the legal definition of common limited elements, as reflected in the state or city legislature. A reference or a link would be great--I tried searching through NY state real property law, but could not find anything fixed.
Call the Attorney General's office. Ask for the RE dept.
They can tell you where to find it.
it can mean different things in different coops/condos. there is no "definition" of it, it's how it is interpreted.