Lets keep this simple:
The Master Deed is your property rights: The document is filed with the county recording officer which allows the condominiums to be established on the leased land, which includes surveys, percentage of ownership for each unit.
Any amendments to the master deed everyone in, unanimous.
The ByLaws is the corporate governance: The bylaws describe among other things, how the common expenses will be shared to maintain the building. Any restrictions on the use of the units and common areas.
Changing the By-Laws 2/3 or majority.
Next Month Blog: Putting the right art in your condo, apartment or common areas.