The Authority of Community Associations and Property Laws

What are the rights of community associations in dealing with real property? The rights of community associations in dealing with real property are governed by specific laws. Under General Corporate Law 617, community associations have the right to buy, sell, or lease real property. Additionally, under the condo and co-op laws, specifically sections 718 & 719, condos and co-ops have the specific authority to acquire title.

Community associations play a crucial role in managing shared properties and common areas in residential communities. Under General Corporate Law 617, these associations have the legal authority to engage in property transactions such as buying, selling, or leasing real estate. This provides them with the necessary framework to make decisions regarding the maintenance and improvement of the community's assets.

Furthermore, the condo and co-op laws, particularly sections 718 & 719, grant specific powers to condominiums and cooperatives when it comes to acquiring title to real property. This gives condos and co-ops the ability to take ownership of the land and buildings within their developments, allowing them to make decisions regarding the use and maintenance of these properties.

By understanding and following these laws, community associations, condos, and co-ops can effectively manage their properties and ensure compliance with government regulations. The legal framework provided by General Corporate Law 617 and condo/co-op laws 718 & 719 helps these organizations navigate property matters and make informed decisions that benefit the communities they serve.

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