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Master Deed (A Master Deed is the instrument that is used by a condominium developer (sponsor) to convert a single property to a scheme of individually owned units in multi-unit buildings that share an ownership in common areas. All unit owners and sponsors must follow the provisions, rules and regulations set forth in the Master Deed. The Master Deed is subject to statutory provisions and reflects the condominium laws in each state. Read more:  answers.com Solidboss) | |||