Definicja COA settlement

Condominium Owners' Association (COA)

A process required at the close of the fiscal year of a condominium owners' association.

COA settlement distributes the actual costs and revenues of the condominium owners' association to the members of the association (the condominium owners). The rules for this settlement are recorded in the declaration dividing common property and separately owned property.

German law requires that the assessments paid based on the annual budget be offset against the actual costs incurred by the owners as stated in the COA settlement.