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Resources > Glossary > Common Areas
Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.
0-9 A B [C] D E F G H I J K L M N O P Q R S T U V W X Y Z Common Terms 1 Common Terms 2
Common AreasFunction: noun Definition 1: Those portions of a building, land, and amenities owned (or managed) by a planned unit development (PUD) or condominium project's homeowners' association (or a cooperative project's cooperative corporation) that are used by all of the unit owners, who share in the common expenses of their operation and maintenance. Common areas include swimming pools, tennis courts, common grassy areas, and other recreational facilities, as well as common corridors of buildings, parking areas, areas for entering and exiting, etc. Thesaurus / Related Terms Condominium Condominium Conversion
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