What is the name of the legal document that details the rules and structure of a shared property?

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The term that signifies the legal document laying out the rules and structure of a shared property is known as the declaration. This document typically contains the covenants, conditions, and restrictions for a property, especially in common interest communities such as condominiums or planned unit developments. It serves to outline the governance, responsibilities, and rights of the property owners, creating a framework for how the shared property will be managed and maintained.

While the other options might seem relevant in different contexts, they do not specifically address the organization of shared property. Articles of incorporation relate to the formation of a corporation, while an operating agreement is primarily associated with limited liability companies (LLCs) and their internal management. A charter usually refers to the document that establishes the existence of a corporation or municipality. Hence, the declaration is the most fitting term for managing shared property.

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