Common Personal Property?

Started by BW • 2 replies • 1255 views

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BW (Colorado)
Posts: 28

Posted:

The Declaration and By-Laws uses "Common Personal Property" but I do no know what that means and others just give their ideas. It's used in conjunction with insurance coverage such as the Association shall pay for Common Elements and "certain Common Personal Property"; or in the maintenance, repair, replacement of Common Elements and "certain Common Personal Property".

Under Insurance the deductible is picked up by the Association if the coverage is for Common Elements but if the owners wants to file under the Association policy, the Owner must pay the deductible even though the damage to their personal property was caused by the damaged Association's Common Element (roof or wall.

PaulH3 (Connecticut)
Posts: 29

Posted:

In respect to a HOA, a “Common Element” refers to land and all parts of a building normally used by all of the owners for their mutual use, convenience, or safety.

To define “Common Personal Property” we need to break it down. “Personal Property” are items other than real property (land and buildings). When you add “Common”, that merely signifies that they for the mutual use of the community and normally owned and provided by the Association. Good examples of this would be things like a big-screen TV in the clubhouse or tables-and-chairs provided at poolside.

JM2 (Oregon)
Posts: 439

Posted:

Hi BW:

Check the front of your documents to see if the term is defined; many docs have a whole article on definitions.

J. Patrick Moore, CMCA

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