A declaration is the governing document for a condominium association. It contains information such as the defined common elements and procedures detailing how assessments will be issued and managed. Often times, unit owners receive a copy of the declaration at the time of closing.

Following is an overview of information typically found within declarations that can impact insurance for both unit owners and associations. The terms contained below are common to most declarations, however please be aware that yours may be different.

This section provides details regarding ownership of the building's common elements and usage rights for owners and the association. This section typically contains information about maintenance, repair or replacement responsibilities for the common areas, units and limited common areas. This information is vital for determining liability if an insurance claim should result. Some declarations include guidelines for improvements and betterments within individual units.

The Insurance section of a declaration often explains the minimum insurance requirements that both unit owners and the association must obtain. A waiver of subrogation clause, found in 99% of declarations, waives and releases claims between owners, to the extent damage is covered by insurance. An example of a waiver of subrogation clause follows:
"Each Unit Owner hereby waives and releases any and all claims which he may have against any other Unit Owner, the Association, its directors and officers, the Trustee, the Trustee's beneficiary, the manager and the managing agent if any, and the respective employees and agents, for damage to the Common Elements, the Units, or to any personal property located in the Units or Common Elements, caused by fire or other casualty, to the extent that such damage is covered by fire or other form of casualty insurance, and to the extent this release is allowed by policies for such fire or other casualty insurance."

Oftentimes unit owners are unfamiliar with their association's declarations. We highly recommend reviewing your declaration. If you have questions, please contact us.