55-79.55 - Allocation of interests in the common elements.
§ 55-79.55. Allocation of interests in the common elements.
(a) The declaration may allocate to each unit depicted on plats and plansthat comply with subsections A and B of § 55-79.58 an undivided interest inthe common elements proportionate to either the size or par value of eachunit.
(b) Otherwise, the declaration shall allocate to each such unit an equalundivided interest in the common elements, subject to the followingexception: Each convertible space so depicted shall be allocated an undividedinterest in the common elements proportionate to the size of each such space,vis-a-vis the aggregate size of all units so depicted, while the remainingundivided interest in the common elements shall be allocated equally to theother units so depicted.
(c) The undivided interests in the common elements allocated in accordancewith subsection (a) or (b) hereof shall add up to 1 if stated as fractions or100% if stated as percentages.
(d) If, in accordance with subsection (a) or (b) hereof, an equal undividedinterest in the common elements is allocated to each unit, the declarationmay simply state that fact and need not express the fraction or percentage soallocated.
(e) Otherwise, the undivided interest allocated to each unit in accordancewith subsection (a) or (b) hereof shall be reflected by a table in thedeclaration, or by an exhibit or schedule accompanying the declaration andrecorded simultaneously therewith, containing three columns. The first columnshall identify the units, listing them serially or grouping them together inthe case of units to which identical undivided interests are allocated.Corresponding figures in the second and third columns shall set forth therespective areas or par values of those units and the fraction or percentageof undivided interest in the common elements allocated thereto.
(f) Except to the extent otherwise expressly provided by this chapter, theundivided interest in the common elements allocated to any unit shall not bealtered, and any purported transfer, encumbrance, or other disposition ofthat interest without the unit to which it appertains shall be void.
(g) The common elements shall not be subject to any suit for partition untiland unless the condominium is terminated.
(1974, c. 416.)