Washington Code 64.32.080 – Common profits and expenses
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The common profits of the property shall be distributed among, and the common expenses shall be charged to, the apartment owners according to the percentage of the undivided interest in the common areas and facilities.
[ 1963 c 156 § 8.]
Terms Used In Washington Code 64.32.080
- Apartment: means a part of the property intended for any type of independent use, including one or more rooms or spaces located on one or more floors (or part or parts thereof) in a building, or if not in a building, a separately delineated place of storage or moorage of a boat, plane, or motor vehicle, regardless of whether it is destined for a residence, an office, storage or moorage of a boat, plane, or motor vehicle, the operation of any industry or business, or for any other use not prohibited by law, and which has a direct exit to a public street or highway, or to a common area leading to such street or highway. See Washington Code 64.32.010
- Common expenses: include :
Washington Code 64.32.010Common profits: means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses. See Washington Code 64.32.010 Property: means the land, the building, all improvements and structures thereon, all owned in fee simple absolute or qualified, by way of leasehold or by way of a periodic estate, or in any other manner in which real property may be owned, leased or possessed in this state, and all easements, rights and appurtenances belonging thereto, none of which shall be considered as a security or security interest, and all articles of personalty intended for use in connection therewith, which have been or are intended to be submitted to the provisions of this chapter. See Washington Code 64.32.010