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They're also responsible for utilities that serve the unit." Miranda makes an important distinction between homeowner and condo associations and cooperatives—in the case of homeowner associations, the common elements are usually separate parcels of real estate.
"That limitation," Hallenborg explains, "means the association itself wouldn't be burdened by a long-term sweetheart contract." The act also governs the transition of control from the developer to the association and the new unit owners.
"It's basically a progressive transition," says Smith.
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