I am having difficulty understanding “exclusive use”:
” One or more owners may have exclusive use of selected common elements, such as parking spaces and balconies.”
It’s similar to leasehold, in the sense that the Unit Owner doesn’t own that particular item.
Consider the balcony. It’s accessible only to you. You are the only person who has a door.
But, it’s better if the Ownership and the Maintenance, and the Replacement (after 40 years) remains with the Building. It’s outside, and if one requires replacement, then, they all require replacement. Otherwise, you’d constantly have the outside of the building under construction, likely for two decades while various people decided to improve by way of replacement, their outside balconies.
It makes much more sense to:
1) leave the balconies, all of them as common elements, but
2) just limit the access to each individual balcony to the adjacent unit owner (exclusive use)
Brian Madigan LL.B., Broker