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FL CAM LICENSE STUDY GUIDE WITH COMPLETE SOLUTION
Question :A Community is defined as
Correct answer:Real or personal property owned by two or
more entities, with a "legally binding agreement (covenant) to
share responsibility and costs for maintenance and
administration of property, assets, and association, and with
specific rights granted to the members.
Question :Community Associations are structured by
Correct answer:Formal (in writing), legal documents defining
property rights, rules and restrictions.
Question :Community Associations are also refered to as
Correct answer:Covenant
Question :Conceptually Community Associations:
Correct answer:Maximize land use, share responsibility, and
expenses.
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