A. All unit owners, tenants of owners, employees of owners and tenants, or any other persons that may in any manner use property or any part thereof submitted to the provisions of the Building Unit Ownership Act shall be subject to the act and to the declaration and bylaws of the association of unit owners […]
A. The manager or the board of directors if required by the declaration, bylaws or by a majority of the unit owners shall insure the property against the risks and under the terms required. The insurance coverage shall be written in the name of the manager, board of directors or the association of unit owners […]
The Building Unit Ownership Act shall apply to property, the sole owner or all of the owners of which submit it to the provisions of the act by duly executing and recording a declaration. History: 1953 Comp., § 70-4-3, enacted by Laws 1963, ch. 221, § 3; 1975, ch. 318, § 3. ANNOTATIONS Am. Jur. […]
Each unit together with its undivided interest in the common areas and facilities, shall constitute real property. History: 1953 Comp., § 70-4-4, enacted by Laws 1963, ch. 221, § 4; 1975, ch. 318, § 4. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 18, 19, […]
Each unit owner shall be entitled to sole ownership and possession of his unit. History: 1953 Comp., § 70-4-5, enacted by Laws 1963, ch. 221, § 5; 1975, ch. 318, § 5. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 8 to 11. Regulation of […]
A. Each unit owner shall be entitled to an undivided interest in the common areas and facilities in the percentage established by the declaration. The percentage shall be computed by taking as a basis the value of the particular unit in relation to the value of the whole property. B. The percentage of the undivided […]
Each unit owner shall comply strictly with the bylaws and with the administrative rules and regulations adopted pursuant thereto and shall comply with the covenants, conditions and restrictions set forth in the declaration or in the deed to his unit. Failure to comply shall be grounds for an action to recover sums due, for damages […]
No unit owner shall undertake any work which would jeopardize the soundness or safety of the property, reduce the value or impair an easement or hereditament without the unanimous consent of all the other unit owners. Structural alterations shall not be made by a unit owner to the building or in the water, gas or […]
A. Subsequent to recording the declaration as provided in the Building Unit Ownership Act, and while the property remains subject to the act, no lien shall arise or be effective against the property. During the period, liens or encumbrances shall only arise or be created against each unit and the percentage of undivided interest in […]
