Shared Facilities Agreement Law and Legal Definition
Shared facilities agreement refers to agreements between condominium corporations to govern the operation, maintenance, repair, replacement, use and enjoyment of the shared facilities owned by each condominium. Shared facilities that come under the agreement include common parking garage, electrical and maintenance rooms, exercise room, children's playroom, table tennis facility, and indoor swimming pool. The purpose of the agreement is to confirm the obligation of the declaring condominium to create appropriate and specified easements in the shared facilities agreement and/or separately between the condominium corporations, as well as to provide for the adding and definition of certain easements and rights between all parties to the agreement.
