Which document outlines the developer's organizational plans for a property?

Prepare for the PSI Property Ownership Exam with flashcards and multiple choice questions. Each question comes with hints and explanations to optimize your study time. Get exam-ready today!

The declaration, often referred to as the declaration of covenants, conditions, and restrictions (CC&Rs), is a key document that outlines the developer's organizational plans for a property, particularly in planned communities or condominiums. This document provides detailed information on the nature of the community, the responsibilities of the homeowners association, rules that residents must follow, and any other regulations or restrictions applicable to the property. It serves as a guiding framework for community governance and helps to ensure that all owners within the development adhere to a common set of standards.

In contrast, articles of incorporation pertain to the formation of a corporation and focus on the business structure rather than the organizational plans for a property. A lease agreement is a contract between a lessor and a lessee that typically outlines the terms of renting a property but does not include long-term organizational plans. A title deed, on the other hand, serves as a legal document that shows ownership of a property and does not detail the developer's plans or the operational structure of a community. This is why the declaration is the most appropriate answer in this context.

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