Marvin Mandel, Governor                         1077

form and with the requirements specified in this subtitle, their desire
to submit their property to the regime established by this subtitle
there is thereby established a horizontal property regime.

11-103. Status of condominium units within a horizontal property
regime.

Whenever property is subdivided into a horizontal property regime,
a condominium unit in the building or buildings may be individually
conveyed, leased and encumbered and may be inherited or devised by
will, as if it were solely and entirely independent of the other con-
dominium units in the building or buildings of which it forms a
part. The said separate units shall have the same incidents as real
property and the corresponding individual titles and interest therein
shall be recordable.

11-104. Joint tenancies, tenancies in common and tenancies by the
entirety.

Any condominium unit may be held and owned by more than one
person as joint tenants, as tenants in common, as tenants by the
entirety (in the case of husband and wife), or in any other real
property tenancy relationship recognized under the laws of this State.

11-105. Ownership of condominium units; undivided share interest
in common elements.

(a)    A condominium unit owner shall have the exclusive fee-
simple ownership of his unit and shall have a common right to a
share, with the other co-owners, of an undivided fee-simple interest
in the common elements of the property, equivalent to the percentage
representing the value of his unit to the value of the whole property.
Said percentage interest shall not be separated from the unit to
which it appertains.

(b)    The individual percentages shall be established at the time
the horizontal property regime is constituted by the recording among
the land records of the master deed, shall have a permanent character,
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 individual percentages established in accordance with
subsection (b) of this section shall be fixed for the purposes of this
subtitle and shall not fix the market value of the individual con-
dominium units and undivided share interests and shall not prevent
each co-owner from fixing a different circumstantial value to his
condominium unit and undivided share interest in the common ele-
ments, in all types of acts and contracts.

(d)    Notwithstanding the provisions of subsections (a) and (b)
of this section, parts of units may be transferred by the owner or
owners of the unit and incorporated as part of another unit provided
a reasonable proportion of the percentage interest of the transferor