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Session Laws, 1963
Volume 671, Page 627   View pdf image (33K)
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J. MILLARD TAWES, Governor                        629

the Land Records of the master deed, shall have a permanent char-
acter, and shall not be changed without the acquiescence of the co-
owners representing all the condominium units in the building, which
change shall be evidenced by an appropriate amendatory declaration
to such effect recorded among the Land Records. The share interest
shall be set forth of record, in the initial individual condominium
unit deeds by reference to the master deed. The share interests in
the common elements shall, nevertheless, be subject to mutual rights
of ingress, egress and regress of use and enjoyment by the other
co-owners.

(c) The basic value of the undivided common interest INDIVID-
UAL PERCENTAGES ESTABLISHED IN ACCORDANCE WITH
SUB-PARAGRAPH (B) OF THIS SECTION shall be fixed for the
purposes of this subtitle and shall not fix the market value of
the individual condominium units and undivided share interests
and shall not prevent each co-owner from fixing a different cir-
cumstantial value to his condominium unit and undivided share
interest in the common elements, in all types of acts and contracts.

121.  INDIVISIBILITY OF THE COMMON ELEMENTS.

(a)  The common elements, both general and limited, shall remain
undivided. No unit owner or any other person shall bring any action
for partition or division of the co-ownership. Any covenant to the
contrary shall be void. This restraint against partition shall not
apply to the individual condominium unit.

(b)   If the property shall be more than two-thirds (2/3rds)
destroyed by fire or other disaster and the co-owners of three-fourths
(3/4ths) of the condominium project shall decided
DECIDE, in con-
formity with the by-laws, to waive and terminate the horizontal prop-
erty regime, in conformity with the provisions of this subtitle there-
upon the restraint against partition and division of the co-ownership
shall no longer apply. Upon any partition all liens on the unit of
each co-owner shall first be paid out of the share of the proceeds
thereunder deraigned
APPLICABLE TO SUCH CO-OWNERS
UNIT.

122.  USE OF ELEMENTS HELD IN COMMON, RIGHT TO RE-
PAIR COMMON ELEMENTS.

(a)  Each co-owner may use the elements held in common in ac-
cordance with the purposes for which they are intended, without
hindering or encroaching upon the lawful rights of the other co-
owners.

(b)  The manager or board of directors as the case may be, shall
have an irrevocable right and an easement to enter units to make re-
pairs to common elements when repairs reasonably appear to be
necessary for public safety or to prevent damage to property other
than the unit.

123.  MASTER DEED OR LEASE.

(a) A master deed or lease shall be recorded in the same manner
and subject to the same provisions of law as are deeds. No State or
local transfer or recordation tax upon the value of the property


 

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Session Laws, 1963
Volume 671, Page 627   View pdf image (33K)
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