Section 515B.2-105 Declaration Contents; All Common Interest Communities
515B.2-105 DECLARATION CONTENTS; ALL COMMON INTEREST COMMUNITIES.
(a) The declaration shall contain:
(1) the number of the common interest community, whether the common interest community is a condominium, planned community or cooperative, and the name of the common interest community, which shall appear at the top of the first page of the declaration in the following format:
Common Interest Community No. ....
(Type of Common Interest Community)
(Name of Common Interest Community)
DECLARATION
(2) a statement as to whether the common interest community is or is not subject to a master association;
(3) the name of the association, a statement that the association has been incorporated and a reference to the statute under which it was incorporated;
(4) a legally sufficient description of the real estate included in the common interest community, a statement identifying any appurtenant easement necessary for access to a public street or highway, and a general reference to any other appurtenant easements;
(5) a description of the boundaries of each unit created by the declaration and the unit's unit identifier;
(6) in a planned community containing common elements, a legally sufficient description of the common elements;
(7) in a cooperative, a statement as to whether the unit owners' interests in all units and their allocated interests are real estate or personal property;
(8) an allocation to each unit of the allocated interests in the manner described in section 515B.2-108;
(9) a statement (i) of the total number of units, and (ii) identifying any units that are restricted to residential use and any units that are restricted to nonresidential use;
(10) if applicable, a statement (i) of the maximum number of units that may be created by the subdivision or conversion of units owned by the declarant pursuant to section 515B.2-112, and (ii) in declarations recorded on or after August 1, 2010, identifying the units that a declarant may subdivide or convert or a statement that a declarant may subdivide or convert all units;
(11) any material restrictions on use, occupancy, or alienation of the units, or on the sale price of a unit or on the amount that may be received by an owner on sale, condemnation or casualty loss to the unit or to the common interest community, or on termination of the common interest community; provided, that these requirements shall not affect the power of the association to adopt, amend or revoke rules and regulations pursuant to section 515B.3-102;
(12) a statement as to whether time shares are permitted;
(13) a statement as to whether the common interest community includes any shoreland, as defined in section 103F.205, and, if the common interest community includes shoreland, a statement that the common interest community may be subject to county, township, or municipal ordinances or rules affecting the development and use of the shoreland area; and
(14) if applicable, matters required by sections 515B.1-103(33), Special Declarant Rights; 515B.2-107, Declaration of Leasehold Common Interest Communities; 515B.2-109, Common Elements and Limited Common Elements; 515B.2-110, Common Interest Community Plat (CIC Plat); 515B.3-115, Assessments for Common Expenses; and 515B.2-121, Master Associations.
(b) The declaration may contain any other matters the declarant considers appropriate.
History:
1993 c 222 art 2 s 5; 1994 c 388 art 4 s 6; 1995 c 92 s 8; 1999 c 11 art 2 s 6; 2000 c 260 s 74; 2001 c 7 s 83; 2005 c 121 s 9; 2010 c 267 art 2 s 3