Definition of "Master deed"

Belinda Agosto real estate agent
Belinda Agosto, Real Estate Agent Premier Sotheby's International Realty

Filed by a condominium developer or converter for the purpose of recording all of the individual condominium units owned within a condominium development. For example, a condominium developer secured a piece of property for the purpose of developing a condominium complex. The developer then recorded a master deed showing the individual condominium units within the complex. Restrictions and covenants may be included with the master deed.

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Comments for Master Deed


Smith Smith said:

What is master deed

Mar 06, 2020  06:06:20

 
Real Estate Agent

Hello Smith! The master deed is also known as the condominium declaration or the declaration of condominium. This document is used by condominium developers to record projects and set what is considered part of the unit and what is “common area”. Also, the master deed includes a list of “rights and obligations” for the unit owners as well as a master floor plan.

Mar 31, 2020  12:51:43
 
Connie Connie said:

Does a Condo Master Deed have to be recognized by a municipality?

Apr 08, 2019  01:14:19

 
Real Estate Agent

Hi, Connie! Yes, the master deed must be recorded with the local registry of deeds. It's the only way to tell authorities what is considered common area and what is part of a unit or condo. Keep in mind that condos are also subject to property taxes later, so the assessor and the appraiser will need to know the gross living area of each condo in order to make the right calculations. 

Apr 09, 2019  06:39:53
 

 

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