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Valuing Condo Association’s And Unit Owner’s Property: Condos Part II

Statutes and even associational declarations differ on the valuation method used when placing insurance coverage on the association’s property. Actual cash value (ACV), replacement cost (RC) and even market value are options mandated by statute and associational covenants, conditions and restrictions (CC&R’s). Most states apply actual cash value as recommended by the Uniform Common Interest…

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