what does common interest community mean

A shared interest in a specific subject brings people together to form a community; it structures interaction and exchange within that community. § 54.1-2348. An owner’s “percentage interest” or “common interest” does not determine that owner’s usage rights or cost responsibilities. Definition of Common Interest: The common interest is the raison d’être of online communities that focus on leisure activities, hobbies, or fandom. Community definition, a social group of any size whose members reside in a specific locality, share government, and often have a common cultural and historical heritage. “Leasehold common interest community” means a common interest community in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the common interest community or reduce its size. Before we begin, let’s be clear about what we mean by community. The real property within a common interest development (“CID”) that is owned exclusively by an owner is referred to as the owner’s “separate interest.” The types of separate interests within a CID are based upon the form of the CID itself: Community Apartment Project – An owner’s separate interest includes an exclusive right to occupy an apartment. “Common interest community” does not include an arrangement described in section 47-219a or a covenant described in section 47-219b. Community property is a form of joint property ownership that is the law in nine states. We mean a group of people that have developed relationships around a strong common interest. 515b.2-110: common interest community plat (cic plat); cic created before august 1, 2010. The type of community changes what happens in the community. This means you have a potential to grow together. 515b.2-111: expansion of flexible common interest community. Excluded are gifts and assets acquired before a marriage. Common Interest Community Board; membership; meetings; quorum. What is Common Interest? Both income and debt are jointly owned in community property states. The community of practice must be able to engage in activities pertaining to their interest. common elements and limited common elements. 515b.2-1101: common interest community plat (cic plat); cic created on or after august 1, 2010. I was once in a relationship with someone with whom i had no common interest but was physically attracted to; we grew apart. The term “party wall” in a planned development usually means a wall, fence, or other building element that sits on … See more. For purposes of this subdivision, “ownership of a unit” includes holding a leasehold interest of forty years or more in a unit, including renewal options. (10) "Common interest community" means real estate described in a declaration with respect to which a person, by virtue of the person's ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in the declaration. members of a common interest community as the governing body to exercise for the members of the common interest community association all powers, duties, and authority vested in the board of managers under this Act and the common interest community association's declaration, bylaws, or operating agreement. Prenuptial agreements can override community property law if … What is a “party wall” in a planned development? 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