association property

(5) Association property The term “association property” means— (A) property held by the organization, (B) property commonly held by the members of the organization, (C) property within the organization privately held by the members of the organization, and (D) property owned by a governmental unit and used for the benefit of residents of such unit. In the case of a timeshare association, such term includes property in which the timeshare association, or members of the association, have rights arising out of recorded easements, covenants, or other recorded instruments to use property related to the timeshare project.

Source

26 USC § 528(c)(5)


Scoping language

For purposes of this section
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