A defining limited common element is an element of a residential condominium or cooperative that is designated for the exclusive use of a specific group of unit owners, as defined in the condominium or cooperative’s governing documents.
What is considered a common element? A common element is generally considered to be any part of a condominium or cooperative property that is owned by all the unit owners in undivided interests. Common elements can include the building exterior, hallways, lobbies, recreational facilities, and any other areas that are used in common by the residents of the property. What is the difference between common element and limited common element? The common element in a condominium or cooperative is generally the air space within the boundaries of the property. Each unit owner owns a portion of the common elements and has an undivided interest in them. The common element can include the building exterior, hallways, lobbies, stairways, elevators, and recreational facilities. In some cases, the common element also includes the land on which the property is built.
The limited common element is a portion of the common element that is reserved for the exclusive use of a particular unit owner or owners. Limited common elements can include balconies, patios, storage rooms, and parking spaces. Which of the following is an example of a limited common element? A limited common element is an element of a condominium or homeowners association that is designated for the exclusive use of a particular unit owner or group of unit owners, and is not subject to the general right of use by all of the association's members.
An example of a limited common element would be a storage unit that is assigned to a specific condominium unit, and can only be accessed by the owner of that unit.