What is the Difference Between a Common Element and a Limited Common Element?

Common elements or CE’s:
According to the Georgia Condominium Act, all property that is not part of a unit is part of the common elements. The common elements in a typical residential condominium are outside the buildings, such as gardens and recreational facilities. The CE ‘s are usually managed and operated by the condominium association. However, the unit owners, instead of the condo association usually own the common elements. The share of each item of property of the common elements described in the declaration of condominium.

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Limited common elements or LCE’s:
Limited common elements are a part of the common elements are allocated and reserved for the exclusive use of one or more units. Limited common elements often include items such as decks, patios, parking spaces, and air conditioning units that are physically outside the cube of space that comprises the condominium unit. LCE ‘s can not be reallocated by the association without the written consent of the owner of the unit. For example, if a parking space is assigned to a unit, it can not be reassigned or given to another unit without the consent of the owner of the unit. Limited common elements travel with the unit.

What is the Difference Between a Common Element and a Limited Common Element?

Common elements or CE’s:
According to the Georgia Condominium Act, all property that is not part of a unit is part of the common elements. The common elements in a typical residential condominium are outside the buildings, such as gardens and recreational facilities. The CE ‘s are usually managed and operated by the condominium association. However, the unit owners, instead of the condo association usually own the common elements. The share of each item of property of the common elements described in the declaration of condominium.

Limited common elements or LCE’s:
Limited common elements are a part of the common elements are allocated and reserved for the exclusive use of one or more units. Limited common elements often include items such as decks, patios, parking spaces, and air conditioning units that are physically outside the cube of space that comprises the condominium unit. LCE ‘s can not be reallocated by the association without the written consent of the owner of the unit. For example, if a parking space is assigned to a unit, it can not be reassigned or given to another unit without the consent of the owner of the unit. Limited common elements travel with the unit.

What is the Difference Between a Common Element and a Limited Common Element?

 

 

 

Common elements or CE’s:
According to the Georgia Condominium Act, all property that is not part of a unit is part of the common elements. The common elements in a typical residential condominium are outside the buildings, such as gardens and recreational facilities. The CE ‘s are usually managed and operated by the condominium association. However, the unit owners, instead of the condo association usually own the common elements. The share of each item of property of the common elements described in the declaration of condominium.

Limited common elements or LCE’s:
Limited common elements are a part of the common elements are allocated and reserved for the exclusive use of one or more units. Limited common elements often include items such as decks, patios, parking spaces, and air conditioning units that are physically outside the cube of space that comprises the condominium unit. LCE ‘s can not be reallocated by the association without the written consent of the owner of the unit. For example, if a parking space is assigned to a unit, it can not be reassigned or given to another unit without the consent of the owner of the unit. Limited common elements travel with the unit.