limited common elements
Definition
A physical space located within a property owned by several entities considered "common" but its use is "limited" to only the residents of a specific unit. Balconies, assigned parking areas and patio areas are some of these elements. In a Condominium Association individual owners own the space inside the walls, roof, and floor of their unit and everything outside of that space is owned by all the condominium owners and is referred to as common elements.
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