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35-8A-210
Section 35-8A-210 Exercise of development rights. (a) To exercise any development right reserved
under Section 35-8A-205(a)(8), the declarant shall prepare, execute, and record an amendment
to the declaration as specified in Section 35-8A-217 and comply with Section 35-8A-209. The
declarant is the unit owner of any units thereby created. The amendment to the declaration
must assign an identifying number to each new unit created, and, except in the case of subdivision
or conversion of units described in subdivision (2) of subsection (c), reallocate the allocated
interests among all units. The amendment must describe any common elements and any limited
common elements thereby created and, in the case of limited common elements, designate the
unit to which each is allocated to the extent required by Section 35-8A-208. (b) Development
rights may be reserved within any real estate added to the condominium if the amendment adding
that real estate includes all matters required by Section...
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35-8A-105
Section 35-8A-105 Separate titles and taxation. (a) If there is any unit owner other than a
declarant, each unit that has been created, together with its interest in the common elements,
constitutes for all purposes a separate parcel of real estate. (b) If there is any unit owner
other than a declarant, each unit must be separately taxed and assessed, and no separate tax
or assessment may be rendered against any common elements for which a declarant has reserved
no development rights. (c) Any portion of the common elements for which the declarant has
reserved any development right may be separately taxed and assessed against the declarant,
and, if separately taxed and assessed, the declarant alone would be liable for payment of
those taxes. (d) If there is no unit owner other than a declarant, the real estate comprising
the condominium may be taxed and assessed in any manner provided by law. (e) All laws authorizing
exemptions or deductions from taxation shall be applicable to each...
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35-8A-205
Section 35-8A-205 Contents of declaration. (a) The declaration for a condominium must contain:
(1) The name of the condominium, which must include the word "condominium" or be
followed by the words "a condominium," and the name of the association; (2) The
name of every county in which any part of the condominium is situated; (3) A legally sufficient
description of the real estate included in the condominium; (4) A statement of the maximum
number of units which the declarant reserves the right to create; (5) A description of the
boundaries of each unit created by the declaration, including the unit's identifying number;
(6) A description of any limited common elements, other than those specified in Section 35-8A-202(2)
and (4), as provided in Section 35-8A-209(b)(10); (7) A description of any common elements
(except real estate subject to development rights) which may be allocated subsequently as
limited common elements, other than limited common elements specified in Section...
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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-209
Section 35-8A-209 Plats and plans. (a) A clear and legible plat of the condominium property
and plans, if required under subsection (d), shall be recorded in the office of the judge
of probate in every county in which any portion of the condominium is located and shall contain
a certification that the plat and plans, if any contain all information required by this section.
If the plat contains all of the information described in subsections (b), (c), (d), and (g),
plans are not required. The recorded plan and plans are part of the declaration. (b) Each
plat must show: (1) The name of the condominium and a survey of the real property included
in the condominium; (2) The location and dimensions of all existing improvements located on
the condominium property; (3) The location and dimensions of any real estate subject to development
rights reserved over any part of the condominium property, labeled to identify the rights
applicable to each identified portion, but the plat need not...
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35-8A-313
Section 35-8A-313 Insurance. (a) Commencing not later than the time of the first conveyance
of a unit to a person other than a declarant, the association shall maintain, to the extent
reasonably available: (1) Property insurance on the common elements insuring against all risks
of direct physical loss commonly insured against or, in the case of a conversion building,
against fire and extended coverage perils. The total amount of insurance after application
of any deductibles shall be not less than the greater of 80 percent of the actual cash value
of the insured property at the time the insurance is purchased or such greater percentage
of such actual cash value as may be necessary to prevent the applicability of any co-insurance
provision and at each renewal date, exclusive of land, excavations, foundations, and other
items normally excluded from property policies; and (2) Liability insurance, including medical
payments insurance, in an amount determined by the board but not less than...
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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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35-8A-307
Section 35-8A-307 Upkeep of condominiums. (a) Except to the extent provided by the declaration,
subsection (b), or Section 35-8A-313(h), the association is responsible for maintenance, repair,
and replacement of the common elements, and each unit owner is responsible for maintenance,
repair, and replacement of his or her unit. Each unit owner shall afford to the association
and the other unit owners, and to their agents or employees, access through his or her unit
reasonably necessary for those purposes. If damage is inflicted on the common elements, or
on any unit through which access is taken, the unit owner responsible for the damage, or the
association if it is responsible, is liable for the prompt repair thereof. (b) In addition
to the liability that a declarant as a unit owner has under this chapter, the declarant alone
is liable for all expenses in connection with real estate subject to development rights. No
other unit owner and no other portion of the condominium is subject to...
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35-8A-218
Section 35-8A-218 Termination of condominium. (a) Except in the case of a taking of all the
units by eminent domain specified in Section 35-8A-107, a condominium may be terminated only
by agreement of unit owners of units to which at least 80 percent of the votes in the association
are allocated, or any larger percentage the declaration specifies. The declaration may specify
a smaller percentage only if all of the units in the condominium are restricted exclusively
to nonresidential uses. (b) An agreement to terminate must be evidenced by the execution of
a termination agreement, or ratifications thereof, in the same manner as a deed, by the requisite
number of unit owners. The termination agreement must specify a date after which the agreement
will be void unless it is recorded before that date. A termination agreement and all ratifications
thereof must be recorded in every county in which a portion of the condominium is situated,
and is effective only upon recordation. (c) In the...
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35-8A-403
Section 35-8A-403 Offering statement - General provisions. (a) Except as provided in subsection
(b), an offering statement must contain or fully and accurately disclose the following information
with regard to the condominium, including a proposed condominium: (1) The name and principal
address of the declarant; (2) The name and the address, legal description, or other description
of the location of the condominium, and the number and types of units in the condominium;
(3) A general description of the condominium, including to the extent possible, number and
types of buildings, structures, and amenities the declarant is obligated to build, and declarant's
schedule of commencement and completion of construction of buildings, structures, and amenities
the declarant is obligated to include in the condominium; (4) Copies of the declaration, as
well as any recorded plats, plans, easements, covenants, conditions, restrictions, and reservations
affecting the condominium; the certificate or...
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