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35-8-2
Section 35-8-2 Definitions. For the purposes of this chapter, the following terms shall have
the meanings respectively ascribed to them by this section: (1) ASSOCIATION. The entity responsible
for the administration and management of the condominium property. (2) COMMON ELEMENTS. A
part or parts of the condominium property as set forth in the declaration in which all of
the unit owners have an undivided interest. (3) COMMON EXPENSES. The expenses arising out
of ownership of common elements for which the unit owners are liable to the association in
accordance with the declaration and bylaws. (4) COMMON SURPLUS. The excess of all receipts
of the association arising out of ownership of common elements over the amount of common expenses.
(5) CONDOMINIUM. The form of ownership of real or personal property or a combination thereof
under a declaration providing for ownership of units of the property by one or more owners.
Such units may consist of private elements together with an undivided...
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35-8A-207
Section 35-8A-207 Allocation of common element interests, votes, and common expense liabilities.
(a) The declaration must allocate to each unit in a condominium a fraction or percentage of
undivided interests in the common elements and in the common expenses of the association specified
in section 35-8A-315(a), and a portion of the votes in the association, to each unit and state
the formulas used to establish allocations of interest. Those allocations may not discriminate
in favor of units owned by the declarant or an affiliate of the declarant. (b) If units may
be added to or withdrawn from the condominium, the declaration must state the formulas to
be used to reallocate the allocated interests among all units included in the condominium
after the addition or withdrawal. (c) The declaration may provide: (i) that different allocations
of votes shall be made to the units on particular matters specified in the declaration; (ii)
for cumulative voting only for the purpose of electing...
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35-8-20
Section 35-8-20 Termination of condominium. (a) The condominium property may be removed from
the provisions of this chapter provided that all unit owners agree and all holders of record
of liens affecting any of the units consent or agree, in either case by instruments duly recorded,
that their liens be transferred to the undivided share of the unit owner in the property as
hereinafter provided. (b) A circuit court may grant the petition of any unit owner for a removal
of the condominium property from the provisions of this chapter and a partition under the
following circumstances: (1) In the event of total destruction of all improvements of the
condominium property and no agreement is reached to rebuild such improvements within a reasonable
time, or such rebuilding has not been completed within a reasonable time. (2) In the event
of substantial destruction, deterioration, or obsolescence of the condominium property and
no agreement is reached to repair, reconstruct, or rebuild such...
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35-8A-202
Section 35-8A-202 Unit boundaries. Except as provided by the declaration: (1) If walls, floors,
or ceilings are designated as boundaries of a unit, all lath, furring, wallboard, plasterboard,
plaster, paneling, tiles, wallpaper, paint, finished flooring, and any other materials constituting
any part of the finished surfaces thereof are a part of the unit, and all other portions of
the walls, floors, or ceilings are a part of the common elements. (2) If any chute, flue,
duct, wire, conduit, bearing wall, bearing column, or any other fixture lies partially within
and partially outside the designated boundaries of a unit, any portion thereof serving only
that unit is a limited common element allocated solely to that unit, and any portion thereof
serving more than one unit or any portion of the common elements is a part of the common elements.
(3) Subject to the provisions of subdivision (2), all spaces, interior partitions, and other
fixtures and improvements within the boundaries of a...
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35-8A-211
Section 35-8A-211 Alterations of units. Subject to the provisions of the declaration and other
provisions of law, a unit owner: (1) May make any improvements or alterations to his or her
unit that do not impair the structural integrity, or mechanical systems, or lessen the support
of any portion of the condominium; (2) May not substantially or adversely change the appearance
of the common elements, or the exterior appearance of a unit or any other portion of the condominium,
without permission of the association; (3) After acquiring an adjoining unit, or an adjoining
part of an adjoining unit, may remove or alter any intervening partition or create apertures
therein, even if the partition in whole or in part is a common element, if those acts do not
impair the structural integrity or mechanical systems or lessen the support of any portion
of the condominium. Removal of partitions or creation of apertures under this subdivision
is not an alteration of boundaries. (Acts 1990, No. 90-551,...
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35-8-18
Section 35-8-18 Blanket mortgage on condominium property. Notwithstanding any other provision
of this chapter, if the declaration or bylaws so permit, the entire condominium property or
some or all of the units included therein may be subject to a single or blanket mortgage constituting
a first lien thereon created by recordable instrument by all of the owners of the property
or units covered thereby; and any unit included under the lien of such mortgage may be sold
or otherwise conveyed or transferred subject thereto. The instrument creating any such mortgage
shall provide a method whereby any unit owner may obtain a release of his unit from the lien
of such mortgage and a satisfaction and discharge in recordable form upon payment to the holder
of the mortgage of a sum equal to the proportionate share attributable to his unit of the
then outstanding balance of unpaid principal and accrued interest and any other charges then
due and unpaid. Such proportionate share attributable to each...
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35-8A-103
Section 35-8A-103 Definitions. In the declaration and bylaws, unless specifically provided
otherwise or the context otherwise requires, and in this chapter, the following terms are
defined as set forth below: (1) AFFILIATE OF A DECLARANT. Any person who controls, is controlled
by, or is under common control with a declarant. A person "controls" a declarant
if the person (i) is a general partner, officer, director, or employer of the declarant, (ii)
directly or indirectly or acting in concert with one or more other persons, or through one
or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing
more than 20 percent of the voting interest in the declarant, (iii) controls in any manner
the election of a majority of the directors of the declarant, or (iv) has contributed more
than 20 percent of the capital of the declarant. A person "is controlled by" a declarant
if the declarant (i) is a general partner, officer, director, or employer of the person,...
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35-8A-312
Section 35-8A-312 Conveyance or encumbrance of common elements. (a) In a condominium portions
of the common elements may be conveyed or subjected to a security interest by the association
if persons entitled to cast at least 80 percent of the votes in the association, including
80 percent of the votes allocated to units not owned by a declarant, or any larger percentage
the declaration specifies, agree to that action; but all the owners of units to which any
limited common element is allocated must agree in order to convey that limited common element
or subject it to a security interest. The declaration may specify a smaller percentage only
if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale
or loan are an asset of the association. (b) An agreement to convey common elements in a condominium
or subject them to a security interest must be evidenced by the execution of an agreement,
or ratifications thereof, in the same manner as a deed, by the...
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35-8A-404
Section 35-8A-404 Offering statement - Condominiums subject to development rights. If the declaration
provides that a condominium is subject to any development rights, the offering statement must
disclose, in addition to the information required by Section 35-8A-403: (1) The maximum number
of units that may be created; (2) A statement of how many or what percentage of the units
which may be created will be restricted exclusively to residential use, or a statement that
no representations are made regarding use restrictions; (3) If any of the units that may be
built within real estate subject to development rights are not to be restricted exclusively
to residential use, a statement as to whether there is a maximum percentage of the units which
may be used for nonresidential purposes; (4) A statement of any development rights reserved
by a declarant and of any conditions relating to or limitations upon the exercise of development
rights; (5) A statement of the maximum extent to which the...
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7-2A-503
Section 7-2A-503 Modification or impairment of rights and remedies. (1) Except as otherwise
provided in this article, the lease agreement may include rights and remedies for default
in addition to or in substitution for those provided in this article and may limit or alter
the measure of damages recoverable under this article. (2) Resort to a remedy provided under
this article or in the lease agreement is optional unless the remedy is expressly agreed to
be exclusive. If circumstances cause an exclusive or limited remedy to fail of its essential
purpose, or provision for an exclusive remedy is unconscionable, remedy may be had as provided
in this article. (3) Consequential damages may be liquidated under Section 7-2A-504, or may
otherwise be limited, altered, or excluded unless the limitation, alteration, or exclusion
is unconscionable. Limitation, alteration, or exclusion of consequential damages for injury
to the person in the case of consumer goods is prima facie unconscionable but...
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