What must a seller do to initiate a condo conversion for rental units?

What must a seller do to initiate a condo conversion for rental units?

• A. File an eviction notice
• B. File a master deed
• C. Notify tenants verbally
• D. Notify the real estate board

Answer: (B)

A seller looking to convert rental units into condominiums must file a master deed to initiate the condo conversion process. The master deed is a legal document that establishes the condominium regime, creating individual units and common areas governed by specific rules and regulations. This document delineates the ownership structure and is essential for the formal creation of the condominiums. While notification to tenants may be necessary and part of the process, simply notifying them verbally is not sufficient to legally convert the property. Moreover, an eviction notice is not a required step for this process, and notifying the real estate board does not initiate the conversion. Thus, filing the master deed is the crucial action needed to proceed with a condo conversion.

A seller looking to convert rental units into condominiums must file a master deed to initiate the condo conversion process. The master deed is a legal document that establishes the condominium regime, creating individual units and common areas governed by specific rules and regulations. This document delineates the ownership structure and is essential for the formal creation of the condominiums.

While notification to tenants may be necessary and part of the process, simply notifying them verbally is not sufficient to legally convert the property. Moreover, an eviction notice is not a required step for this process, and notifying the real estate board does not initiate the conversion. Thus, filing the master deed is the crucial action needed to proceed with a condo conversion.