The person creating the condominium is known as the “declarant,” but is more commonly referred to as the “developer.” The developer can record a Master Deed before, during, or after the actual construction of the building, and the developer does not actually convey any property through the recording. Typically, the by-laws of the Declaration of Trust authorize the developer to appoint the initial trustees, allowing the developer to control the operation and management of the condominium during the developmental phases. These by-laws will also generally regulate the transition from a developer-controlled association to a unit-owner controlled association.
Howard Goldman was a guest on a radio talk show “Let’s Talk Real Estate” on Wednesday, November 2 at 11:30am. Let’s Talk Real Estate delivers real estate education and expert perspectives in an informative and entertaining way. You may