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2009_0126_Packet
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2009_0126_Packet
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4/20/2009 9:31:00 AM
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Attachment B <br />1V17NNESOTA STATUTES 2008 S�SB.2-]08 <br />S15B.2-i08 ALLOCATiON OF INTEI�ESTS. <br />(a) The declara�ian. sha1� ailacate to each unit: <br />( I) in a cond.o�ninium, a fraction or percentage ofundivided interests in the common elements <br />and in the common expenses of th.e association and a portion of #he votes i� the association; <br />{2) in a cooperative, an o�ners�tip interest in the assaciation, a fraction or percentage of t11e <br />comtnan expenses of the association and a portion of the votes in the assaciatian; anc3 <br />(3) in a planned community, a fraction or percentage of Lhe common expenses of the <br />�ssociation and a portion af the votes in the association. <br />(b} Th.e declaration shall state the formulas. usec� to establish allocations of interests. .If the <br />fractions ar percenta�es are alI equal the deciaration .may so state in iieu of stai'rng the.fractions <br />or percenfages. The declaration need not allacate vates t.a ur�its that are auxiliary to other units, <br />s�ch as garage units or starage units. The alIocatlons shall nat d�scriminate in favar ofunits <br />owned by the declarant or an afli9iate of the deciarant, except as provided in sectians S 15B.2-121 <br />and S15B.3-115. <br />(c) Ifunits may be added to the common inYerest cornmunity, the formulas used to reallocate <br />the allocated interests among ali units included in the common interest corrtmunity after the <br />additian shsll be tl�e formulas state� tn the cfeclaration. <br />(d) `I'Ize declaration may a�thorize special allocations: (i} of unit owner votes among certain <br />units or ciasses of units an particular �natters specified in the declaration, or (ii} of camrnon <br />expenses among certain units ar classes ofunits on parCicular mai#ers speeified in the declaratinn. <br />Special allocations rr�ay anly be used to address operational, physica! or administraiive differences <br />within the comm.on. interest community. A deciarart.t rnay not utilize specia! allocations for the <br />purpose af evading any lirnitatian or obligation imposed on decE.arants by this �hapter nor niay <br />units c�nstitute a ciass because they are owned by a declarant. <br />(e) The sum of each category af allocared interests allocated at any time to a11 the uni�s <br />� <br />�nusi eq_uai one if stated as a fractian. or 104_percent if stated as a percenta�e: In the evei�t of a� <br />discrep�ncy betvveen an all.ocaied interest and the result derived fram appiication of the pertinent <br />formula, the al.i.ocated interest prevaiIs.. <br />(� .In a condaminium ar planned cornrnunity, the corr�mon elements are nnE subject to <br />partitian, and at�y purported canveyance; encumbrance, judiciai sale, or other voluntary or <br />in�aluntary transfer of an undivided interest in the cornrnon etements made without the unit to <br />which that interest is atlacated is void. The granting of �asements, licenses or leases pursuant to <br />section S 15B.3-102 shall not cor�st'rtute � parrition: <br />�xhf b�-�' c <br />Copyright m 2008 by the Revisar �f Statutes, Staie of Menraesota. All Rights Rcserved. <br />
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