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How is Common Area defined in a legal contract?

• Common Area means any real property held by [organization] for shared use and pleasure of its owners. Seen in 123 SEC filings.
• Common Area means all areas and facilities within a project, not specifically reserved for one occupant's exclusive use, including parking spaces, access and perimeter roads, pedestrian sidewalks, landscaped spaces, waste enclosures, leisure zones, among others. Seen in 102 SEC filings.
• Common Area means a section of a building open to all occupants. This may encompass hallways, stairways, laundry and recreational rooms, playgrounds, community centers, garages, and boundary fences. Seen in 74 SEC filings.
• Common Area means the portion of the shopping center meant for shared use of all tenants, including parking spaces, private streets and alleys, landscaping, curbs, loading areas, sidewalks, malls and promenades, lighting facilities, drinking fountains, meeting rooms, and public restrooms, among others. Seen in 60 SEC filings.
• Common Area means property within a development site which is owned, leased or outlined in the [clause] to be maintained or run by a property owners' association for usage by its members. Seen in 41 SEC filings.
• Common Area means any real property owned by the Association for the shared usage and enjoyment of the landowners. Seen in 30 SEC filings.
• Common Area means any space in the project property's buildings not located in the units, such as hallways, stairways, common rooms, laundry rooms, garages/carports, among others. Seen in 29 SEC filings.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Common Area means any property either owned by an [organization] or allocated for joint usage by occupants.

Relevant Contract Types

• Real Estate Lease Agreements
• Homeowner Association Agreements
• Co-working Space Lease Agreements
• Commercial Property Lease Agreements

Relevant Circumstances

• Allocation of shared resources and spaces in properties
• Formation of co-working spaces or shared office environments
• Setting up of residential communities with shared amenities

Relevant Sectors

• Real Estate
• Commercial Property
• Residential Property

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Genie Definition 2

• Common Area means spaces within buildings publicly accessible, excluding indivisible units, intended for collective usage.

Relevant Contract Types

• Property Management Contracts
• Commercial Lease Agreements
• Office Lease Agreements

Relevant Circumstances

• Construction or renovation of public buildings like malls or shopping centers
• Division of common spaces in corporate building and cooperative housing complexes

Relevant Sectors

• Building Management
• Commercial Real Estate
• Retail Properties

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