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Terra Ridge is governed by its Declaration of Submission of Property and Bylaws, both of which are recorded with the Johnson County Iowa Recorder's Office. These documents provide, among other things, for an elected board of directors which oversees the operation of the Association throughout the year, as well as an annual meeting of the members (unit owners) to be held in June of each year. The Bylaws expressly provide that the affairs of Terra Ridge shall be managed by its Board of Directors and set forth the powers and duties of the Board. These documents also address the rights of owners with respect to the final approval of budgets and assessments. Additionally, there are Rules and Regulations which generally relate to the conduct of unit owners and others. All of the documents affecting the governance of Terra Ridge are posted on this website under the Governance Tab.
Condominium Definition: Ownership within a condominium community differs significantly from ownership of a single family home. The primary difference is that the owner of a single family home owns everything (house and lot). In a condo, ownership of buildings and grounds is divided between the owner and the Association. Correspondingly, the owner of a single family home has responsibility for the repair and maintenance of the home and the surrounding land. In a condo those responsibilities are divided between the owner and the Association.
At Terra Ridge, the owners of each condominium own a portion of their individual units while all of the owners within the community collectively own the portion of the unit characterized as either a general common element or a limited common element. Everything outside of the unit, except air conditioners, is owned by the Association. There are 11 free standing condos at Terra Ridge and 50 units in buildings of 2 each which share a common wall and a common roof. Generally, the Association is responsible for the maintenance of the general and limited common elements, and the unit owners are responsible for the portion of the units in which they have sole ownership.
The following two principles simplify the division of ownership of individual units as between the unit owners and the Association: With some important exceptions for drywalls, subfloors, and ceilings all of which are owned by the Association, (1) unit owners own everything in their individual units from the perimeter dry wall (paint in) and (2) the Association owns the elements of the individual units from the perimeter dry wall (paint out). (The elements of a unit owned by the Association are called "limited common element.").
Everything beyond the siding of the individual units with the exception of air conditioners are owned by the Association and are characterized as either general common elements or limited common elements. See, Declaration, Articles I(4)(definition of unit), III(1)(second paragraph), IV (general common elements) and V (limited common elements). See also Article VIII (relating to maintenance responsibilities of Association and owners).
A more detailed discussion of the distinction between the common elements and the maintenance responsibilities of the Association and the unit owners can be found elsewhere on the Website under the FAQs Tab and the Documents section of the Governance Tab. As part of the budgetary process, the Board of Directors decides whether and when to repair or replace the general and limited common elements. Because the budget is NOT unlimited, the Board may determine that certain common elements will not be maintained by the Association.
Importantly, unit owners are allowed to make modifications to the units they own that do NOT affect the general or limited common elements without permission from the Board. However, modifications that affect either the general or limited common elements must first be approved by the Association's Board of Directors. In some cases, approval will be conditioned upon the execution of an agreement between the unit owner and the Association shifting the Association's maintenance responsibility for the modification from the Association and liability for damages resulting from the modification from the Association to the unit owner and the owner's successors.
The Association purchases casualty insurance for the general and limited common elements of the Association. Unit owners should purchase condo insurance for themselves for the portion of the units that they own. Unit owners are strongly advised to purchase loss assessment coverage and sump pump coverage.
Be a Good Neighbor...
Seek Board Approval for ANY Modifications to the Common Elements
to or around your unit BEFORE you make them!
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