Sec. 2. Definitions
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Section 102 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5122 ) is amended by adding at the end the following: The term residential common interest community means a nonprofit mandatory membership organization comprising of owners of real estate described in a declaration or created pursuant to a covenant or other applicable law with respect to which a person, by virtue of the person’s ownership of a unit of the real estate, is obligated to pay for a share of— real estate taxes; insurance premiums; and maintenance or improvement of, or services or other expenses relating to, common elements, other units, or any other real estate other than the unit described in the declaration.
The term condominium means a multi-unit housing project— in which each dwelling unit is separately owned; the remaining portions of the real estate of which are designated for common ownership solely by the owners of the dwelling units, each owner having an undivided interest in the common elements; and which is represented by a condominium association consisting exclusively of the owners of each dwelling unit, which is, or will be responsible for the operation, administration, and management of the project.
The term housing cooperative means a multi-unit housing entity in which each dwelling unit is subject to separate use and possession by 1 or more cooperative members whose interest in such unit, and in any undivided assets of the cooperative association that are appurtenant to such unit, is evidenced by a membership or share interest in a cooperative association and a lease or other document of title or possession granted by such cooperative as the owner of all cooperative property. .
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