Hawaii Real Estate State Practice Exam

Is it true that the declaration of a condominium development contains the percentage of undivided interest in the common elements appurtenant to each apartment?

1. True

2. False

3. Only for luxury apartments

4. Only if specified by the developer

The correct answer is: True

The declaration of a condominium development is a crucial document that outlines the legal framework and governing rules for the community. Within this declaration, it is standard practice to include the percentage of undivided interest in the common elements that is associated with each individual unit or apartment. This percentage indicates each owner's shared ownership of the common amenities and areas of the property, such as hallways, lobbies, pools, and other shared facilities. This undivided interest is key because it establishes a framework for how costs related to maintenance and management of these common elements are assessed and allocated among unit owners. Each unit’s percentage interest can affect voting rights, share of expenses, and overall financial responsibility, making it an essential component of condominium ownership. Therefore, the statement affirming that the declaration contains the percentage of undivided interest is true, and this information is relevant to all units within the condominium, not just luxury apartments or based on the developer's discretion.