Ohio Code 5311.02 – Chapter applicable to condominium property
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Chapter 5311 of the Revised Code applies only to property that is specifically submitted to its provisions by the execution and filing for record of a declaration by the owner, as provided in this chapter. In every instance, any property so submitted shall be either a fee simple estate or a ninety-nine year leasehold, renewable forever. Neither the submission of property to the provisions of this chapter, nor the conveyance or transfer of a condominium ownership interest constitutes a subdivision within the meaning of, or is subject to, Chapter 711 of the Revised Code.
Terms Used In Ohio Code 5311.02
- Condominium: means a form of real property ownership in which a declaration has been filed submitting the property to the condominium form of ownership pursuant to this chapter and under which each owner has an individual ownership interest in a unit with the right to exclusive possession of that unit and an undivided ownership interest with the other unit owners in the common elements of the condominium property. See Ohio Code 5311.01
- Declaration: includes all amendments to that declaration. See Ohio Code 5311.01
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Property: means real and personal property. See Ohio Code 1.59