1979 077 Ordinance - Laserfiche WebLink

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ORDINANCE NO. Page -4- (e) "Condominium Ownership Interest" means a fee simple estate or a ninety-nine (99) year leasehold estate, renewable forever, in a unit, together with an appurtenant undivided interest in the common areas and £acilities. (f) "Condominium Unit" or"Unit" means a por.tion of the condominium development designated for separate ownership. (g) "Conversion Condominium Development" means a"condominium development in which the condominium units were previously rental units. (h) "Declarant" means any person who plans to execute or has executed the declaration or on whose behalf the declaration is executed. (i) "Declaration'! means an instrument by which property is submitted to the Ohio Condominium Act, Chapter 5311 of the Ohio Revised Code. (j) "Developer" means any person who, directly or indirectly, sells or offers for sale condominium ownership interest in a condominium development, including the declarant of a condominium development and any successor the the declarant who stands in the same relation to the condominium development as the declarant, and including any agent thereof. (k) "Public Offerinq Statement" means a document provided by the developer under Section 1379.05, which discloses the characteristics of the condominium development. (1) "PUrchaser" means both an actual and prospective purchaser of a condominium ownership interest. (m) "[init Owner" means a person who owns a condominium ownership interest in a condominium unit. 1379.04 INSPECTION OF THE CONDOMINIUM DEVELOPMENT. (a) Filing of the Public Offering Statement No developer shall sell or o£fer to sell a condominium ownership interest in a conversion condominium development in Mayfield Village unless he first files the following items with the Building Commissioner of the Village: (1) Twenty (20) copies o£ the Public Offering Statement provided by the developer under Section 1379.05; and (2) Any bond required by Section 1379.04(b); and