Defined. In a stock cooperative, a corporation owns the entire project, including the units, and shareholders are given an exclusive right to lease a unit. In a "Community Apartment Project" the members own the entire project in common, including the units, and are given an exclusive right to lease an apartment. (Civ. Code §4105.) These are also known as "Own-Your-Owns" or "Tenancies In Common" (TIC). It is sometimes called a "deed plan." (California Coastal Com. v. Quanta Investment Corp. (1980) 113 Cal. App. 3d 579, 588.)
To qualify as a common interest development under the Davis-Stirling Act, the right to occupy an apartment must be to the exclusion of others must be specified in the deed. A development in which an undivided interest in property is coupled with an exclusive right of occupancy in any apartment does not qualify as a community apartment project if an owner's exclusive occupancy right is specified by a separate agreement that is not contained or referenced in the grant deed. (Adler v. Elphick (1986) 184 Cal.App.3d 642, 647-648.)
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