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Session Laws, 1974
Volume 713, Page 391   View pdf image
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MARVIN MANDEL, Governor                                    391

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 TITLE 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 CIRCUMSTANTIAL VALUE TO
HIS CONDOMINIUM UNIT AND UNDIVIDED SHARE INTEREST IN THE
COMMON ELEMENTS, 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 IS TRANSFERRED TO THE TRANSFEREE, WHICH CHANGE
SHALL BE EVIDENCED BY AN APPROPRIATE AMENDATORY
DECLARATION TO SUCH EFFECT RECORDED AMONG THE LAND
RECORDS SPECIFICALLY DESCRIBING THE PART TRANSFERRED, THE
PERCENTAGE REALLOCATED AND THE NEW PERCENTAGES OF THE
TRANSFEROR AND TRANSFEREE. THE TRANSFER MAY BE HADE
WITHOUT THE ACQUIESCENCE OF THE CO-OWNERS REPRESENTING
ALL THE CONDOMINIUM UNITS IN THE REGIME PROVIDED THE
AMENDATORY DECLARATION IS EXECUTED BY THE OWNERS OF THE
UNITS INVOLVED AND BY THE ENTITY DESIGNATED IN THE
RECORDED BYLAWS AS IN CHARGE OF ADMINISTRATION.

11-106* 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 DECIDE, IN CONFORMITY WITH THE BYLAWS TO
WAIVE AND TERMINATE THE HORIZONTAL PROPERTY REGIME, IN
CONFORMITY WITH THE PROVISIONS OF THIS TITLE THEREUPON
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 APPLICABLE TO SUCH
CO-OWNER'S UNIT.

11-107. USE OF ELEMENTS HELD IN COMMON; RIGHT TO REPAIR
COMMON ELEMENTS.

 

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Session Laws, 1974
Volume 713, Page 391   View pdf image
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