|
separate interest
|
-
- In a
community apartment project, "separate interest" means the exclusive right to occupy an apartment, as specified in
Section 4105
- In a condominium project, "separate interest" means a
separately owned unit, as specified in
Section 4125
- In a
planned development, "separate interest" means a separately owned lot, parcel, area, or space
- In a
stock cooperative, "separate interest" means
the exclusive right to occupy a portion of the real property, as specified in
Section 4190
- Unless the declaration or
condominium plan, if any exists, otherwise provides, if walls,
floors, or ceilings are designated as boundaries of a separate interest, the interior surfaces of the perimeter walls, floors, ceilings, windows,
doors, and outlets located within the separate interest are part of the separate interest and any other portions of
the walls, floors, or ceilings are part of the
common area.
- The estate in a separate interest may be a fee, a life estate, an estate for years, or any combination
of the foregoing.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014,
by Sec. 3 of Ch. 180.)
CA Civ. Code
§ 4185
|
|
stock cooperative
|
- a development in which a corporation is formed or availed of, primarily for the purpose of holding
title to, either in fee simple or for a term of years, improved real property, and all or
substantially all of the shareholders of the corporation receive a right of exclusive occupancy in a
portion of the real property, title to which is held by the corporation. The owners' interest in the
corporation, whether evidenced by a share of stock, a certificate of membership, or otherwise, shall
be deemed to be an interest in a
common interest development and a real estate development for purposes of subdivision (f) of
Section 25100 of the Corporations Code
- A "stock cooperative" includes a limited equity housing cooperative which is a stock cooperative that
meets the criteria of Section 817.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014,
by Sec. 3 of Ch. 180.)
CA Civ. Code
§ 4190
CA Corp Code
§ 25100
|