Chapter 20 - Condominium Ownership
CHAPTER 20 - CONDOMINIUM OWNERSHIP
34-20-101. Short title.
Thisact shall be known and may be cited as the "Condominium OwnershipAct".
34-20-102. Condominium ownership recognized; fee simple estate in airspace and common elements; inseparability.
Condominiumownership of real property is recognized in this state. Whether created beforeor after the date of this chapter, such ownership shall be deemed to consist ofa separate fee simple estate in an individual air space unit of a multi-unitproperty together with an undivided fee simple interest in common elements. Theseparate estate of any condominium owner of an individual air space unit andhis common ownership of such common elements as are appurtenant to hisindividual air space unit by the terms of the recorded declaration shall beinseparable for any period of condominium ownership that is prescribed by thesaid recorded declaration.
34-20-103. Definitions.
(a) As used in this act, unless the context otherwise requires:
(i) An "individual air space unit" shall consist ofany enclosed room or rooms occupying all or part of a floor or floors in abuilding of one (1) or more floors to be used for residential, professional,commercial or industrial purposes and which has access to a public street;
(ii) Unless otherwise provided in the declaration or by writtenconsent of all the condominium owners:
(A) "General common elements" means the land on whicha building or buildings are located; the foundations, columns, girders, beams,supports, main walls, roofs, halls, corridors, lobbies, stairs, stairways, fireescapes, entrances and exits of such building or buildings; the basements,yards, gardens, parking areas and storage spaces; the premises for the lodgingof custodians or persons in charge of the property; installations of centralservices such as power, light, gas, hot and cold water, heating, refrigeration,central air conditioning and incinerating; the elevators, tanks, pumps, motors,fans, compressors, ducts and in general all apparatus and installationsexisting for common use; such community and commercial facilities as may beprovided for in the declaration; and all other parts of the property necessaryor convenient to its existence, maintenance and safety, or normally in commonuse;
(B) "Limited common elements" means those commonelements designated in the declaration as reserved for use by fewer than allthe owners of the individual air space units;
(iii) "Condominium unit" means an individual air spaceunit together with the interest in the common elements appurtenant to suchunit;
(iv) "Declaration" is an instrument which defines thecharacter, duration, rights, obligations and limitations of condominiumownership.
34-20-104. Notice to tax assessor; apportionment of taxes; recordingdeclaration; covenants running with land.
(a) Whenever condominium ownership of real property is created,or separate assessment of condominium units is desired, a written noticethereof shall be delivered to the assessor of the county in which said realproperty is situated, which notice shall set forth descriptions of thecondominium units. Thereafter all taxes, assessments and other charges of thisstate or of any political subdivision or of any special improvement district orany other taxing or assessing authority shall be assessed against and collectedon each condominium unit, each of which shall be carried on the tax books as aseparate and distinct parcel for the purpose, and not on the building orproperty as a whole. The valuation of the general and limited common elementsshall be assessed proportionately upon the individual air space unit in themanner provided in the declaration. The lien for taxes assessed to anyindividual condominium owner shall be confined to his condominium unit and tohis undivided interest in the general and limited common elements. Noforfeiture or sale of any condominium unit for delinquent taxes, mechanics,laborers or materialmen's liens, assessments or charges shall divest or in anyway affect the title of other condominium units.
(b) The declaration shall be recorded in the office of thecounty clerk where the condominium property is located. Such declaration shallprovide for the filing for record of a map properly locating condominium units.Any instrument affecting the condominium unit may legally describe it by theidentifying condominium unit number or symbol as shown on such map. If suchdeclaration provides for the disposition of condominium units in the event ofthe destruction or obsolescence of buildings in which such units are situatedand restricts partition of the common elements, the rules or laws known as therule against perpetuities and the rule prohibiting unlawful restraints onalienation shall not be applied to defeat or limit any such provisions.
(c) To the extent that any such declaration shall contain amandatory requirement that all condominium unit owners shall be members of anassociation or corporation, or provide for the payment of charges assessed bythe association upon condominium units, or the appointment of anattorney-in-fact to deal with the property upon its destruction orobsolescence, any rule of law to the contrary notwithstanding, the same shallbe considered as covenants running with the land binding upon all condominiumowners and their successors in interest. Any common law rule terminating agencyupon death or disability of a principal shall not be applied to defeat or limitany such provisions.