Sec. 47-84. Repairs.
Sec. 47-84. Repairs. (a) Except as hereinafter provided, damage to or destruction
of any building or improvement located on the condominium parcel or serving the condominium shall be promptly repaired and restored by the declarant or the association,
using the proceeds of insurance, if any, on such building or improvement for that purpose
and all costs for repair or reconstruction in excess of available insurance proceeds,
regardless of whether such excess is the result of the application of a deductible under
insurance coverage, shall be a common expense.
(b) If the condominium is damaged to the extent of two-thirds of its then replacement
cost, and three-fourths of the unit owners and the holders of mortgage liens affecting
at least three-quarters of the units vote not to proceed with repair or restoration, the
property remaining shall be deemed to be owned in common by the unit owners, and
each unit owner shall own that percentage of the undivided interest in common as he
previously owned in the common elements. Any liens affecting any of the units shall
be deemed to be transferred in accordance with the existing priorities to the percentage
of the undivided interest of the unit owner in the property; and the property shall be
subject to an action for partition at the suit of any unit owner, in which event the net
proceeds of sale, together with the net proceeds of the insurance on the property, if
any, shall be considered as one fund and shall be divided among all the unit owners in
accordance with their interests therein, after first paying all liens out of each of the
respective interests.
(1963, P.A. 605, S. 25; P.A. 76-308, S. 9, 36; P.A. 07-68, S. 2.)
History: P.A. 76-308 provided procedures to be utilized in the event of damage or destruction of any building or
improvement on the condominium parcel or serving the condominium and required the concurrence of the mortgagees of
at least three-quarters of the units in a vote not to repair or restore; P.A. 07-68 amended Subsec. (a) to specify that common
expenses include any excess resulting from applicable insurance deductible.
See Sec. 47-90c re effective date and applicability of chapter.