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(a) A proprietor of a home in a condo regime owns it specifically, and the proprietor might possess, convey, or encumber the apartment, or subject it to judicial acts, independently of the various other homes in the condo regimen.(b) An individual title or passion in an apartment in a condominium program is recordable.(c) The entire interest in the condominium regimen will be separated among the apartments.


3620, ch. 576, Sec - apartments for rent near greenwood. 1, eff. Jan. 1, 1984. Sec. 81. 107. INTERESTS ALIKE ASPECTS. A proprietor of a house in a condo regimen shares possession of the regimen's typical elements with the other house owners. An apartment or condo owner might make use of the common elements according to their intended purposes, as expressed in the plat, statement, or bylaws of the condo routine, without interfering with the legal rights of the various other home owners.


1, eff. (a) The ownership of the general as well as the minimal common aspects of a condominium program may not be judicially partitioned or separated while they are appropriate for a condominium regimen.(b) An individual may not initiate an activity for dividing of the restricted or basic common aspects of a condominium routine unless the home loans on the home are paid or the permission of the mortgagees is obtained.

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3621, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 109. CONVEYANCE OF COMMON ELEMENTS. A home in a condo routine and the wholehearted interest of an apartment or condo proprietor in the common aspects of the regimen that are attributable to the home might not be conveyed separately. If a conveyance of a home does not describe the common elements, the undistracted passion of the apartment owner in the basic and also the limited typical components of the routine attributable to the apartment or condo is shared with the house.


3622, ch. 576, Sec. 1, eff. Jan. 1, 1984. Sec. 81. 110. DISCONTINUATION OF CONDO ROUTINE. (a) By consentaneous arrangement, or if the affirmation attends to termination by arrangement of the proprietors, by agreement of the owners of at the very least 67 percent or a stated percent in the statement, whichever is higher, of the possession rate of interests in the condominium, the owners of a building in a condominium program may end the regime as well as demand the region staff of the linked here area in which the regimen is located to merge the documents of the estates that consist of more the condo routine, if any kind of financial institutions in whose part encumbrances against the building are recorded agree to accept the undivided parts of the property had by the borrowers as security, supplied no change may be made to an affirmation to lower the ballot needed for termination of the condo routine - new apartments greenwood.(b) If a condo regime is terminated, each apartment or condo proprietor has an undivided passion in the common residential property that represents the wholehearted passion formerly owned by the apartment proprietor in the usual aspects.(c) Home that has actually been removed from a condo program might be dedicated to one more condo routine at any type of time.




1, eff. AMENDMENT OF CONDOMINIUM AFFIRMATION. After a condominium declaration is taped with a county staff, the statement may not be amended except at a conference of the apartment proprietors at which the modification is authorized by the holders of at least 67 percent of the ownership interests in the condo.

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For the objectives of this phase, the apartment or condo proprietors that possess at the very least 51 percent of the passions in a condominium regimen, as identified under the affirmation, are a bulk of the home proprietors. (a) By resolution of a bulk of the council of owners or in the manner provided or needed by the affirmation or bylaws, the council of owners might acquire the insurance policy it regards suitable for the defense of the structures and also the apartment owners.(b) Insurance policy may be written in the name of the council of proprietors, or in the name of an individual designated in the affirmation or laws, as trustee for the house proprietors and also their mortgagees.


Unless the council of owners unanimously agrees or else, the insurance coverage continues shall be paid to the specific house proprietors or their mortgagees, as their interest useful site might show up, in proportion to the rate of interest of an apartment owner in the condo routine as developed by the statement. (a) The administrator or board of administration of a condo regimen or an individual designated by the laws of the routine will keep a comprehensive written account of the receipts and expenses connected to the building as well as its management that specifies the expenses sustained by the regimen.(b) The accounts and sustaining vouchers of a condo regimen will be made available to the apartment owners for exam on functioning days at hassle-free, well-known, and publicly announced hrs.