SB550: Bill Text

SB550,7,20 703.09 (2m) (title) Consent of unit owners and mortgagees; amendments.

SB550,16 Section 16. 703.09 (3) (title) of the statutes is created to read:

SB550,7,22 703.09 (3) (title) Compensation for reduction in value; amendments.

SB550,17 Section 17. 703.09 (4) of the statutes is amended to read:

SB550,8,4 703.09 (4) Assignment of declarant's interest. A declarant may assign his or her rights and obligations as a declarant under this chapter by recording an amendment to the declaration that includes the assignment and an acceptance of the assignment that is signed by the assignee and acknowledged. A declarant may not assign under this subsection less than all of his or her rights and obligations as a declarant under this chapter.

SB550,18 Section 18 . 703.093 (1) of the statutes is amended to read:

SB550,8,12 703.093 (1) As an alternative to s. 703.09 (2), a condominium declaration may be amended under this section if at least two-thirds of the aggregate of the votes established under s. 703.09 (1) (f), or a greater percentage if provided in the declaration, consent to the amendment in writing and those consents are approved by the mortgagees or holders of equivalent security interests in the units. An amendment becomes effective when it is recorded in the same manner as the declaration.

SB550,19 Section 19. 703.093 (7) of the statutes is amended to read:

SB550,8,18 703.093 (7) Any person acquiring a mortgage or equivalent security interest on a unit after the affidavit is recorded under sub. (2) may notify the association in writing of the mortgage or equivalent security interest lien, identifying the unit on which it holds a lien, and signify its approval of or objection to the proposed amendment to the declaration.

SB550,20 Section 20. 703.095 of the statutes is renumbered 703.095 (1) and amended to read:

SB550,8,24 703.095 (1) Modifications. A recorded condominium instrument, amendment, or addendum may only be modified only by recording an amendment, addendum, or correction instrument, or by removal from the provisions of this chapter under s. 703.28 (1).

SB550,9,3 (2) Requirements. The register of deeds may not record an amendment, addendum, or correction instrument only if it does not refer the document complies with s. 703.065, if applicable, and satisfies all of the following criteria:

SB550,9,8 (a) It refers to the condominium instrument, amendment, or addendum being modified or corrected, including the document number assigned to the document being modified, and may not record an amendment or addendum unless it if volume and page numbers are assigned to the document being modified or corrected, the volume and page where the document is recorded.

SB550,9,11 (b) It is numbered consecutively or states that it is an amendment and restatement of the condominium instrument being modified or corrected , bears the name of the condominium as it appears in the declaration, and identifies .

SB550,9,12 (c) Identifies all units in the condominium.

SB550,21 Section 21. 703.095 (2) (d) of the statutes is created to read:

SB550,9,15 703.095 (2) (d) Clearly states the changes being made to the condominium instrument, amendment, or addendum it is modifying or correcting.

SB550,22 Section 22. 703.095 (3) of the statutes is created to read:

SB550,9,19 703.095 (3) Correction instrument. A correction instrument may be used only to correct a scrivener error on a condominium plat, including erroneous distances, angles, directions, bearings, chords, building or unit numbers, and street names.

SB550,23 Section 23. 703.10 (5) of the statutes is amended to read:

SB550,9,25 703.10 (5) Amendment. The bylaws may be amended by the affirmative vote of unit owners having 67 percent or more of the votes. Each particular set forth in sub. (2) shall be expressed in the bylaws as amended. Following an amendment to the bylaws, the association shall promptly deliver to each unit owner a copy of the approved amendment.

SB550,24 Section 24. 703.11 (2) (b) of the statutes is renumbered 703.11 (2) (b) (intro.) and amended to read:

SB550,10,4 703.11 (2) (b) (intro.) A survey of the property described in the declaration complying that satisfies all of the following criteria:

SB550,10,7 1. The survey complies with minimum standards for property surveys adopted by the examining board of architects, landscape architects, professional engineers, designers and professional land surveyors and showing .

SB550,10,9 2. The survey shows the location of any unit or building located or to be located on the property.

SB550,25 Section 25. 703.11 (2) (b) 3. of the statutes is created to read:

SB550,10,12 703.11 (2) (b) 3. The survey includes a clear and concise description of the surveyed property, as described in s. 236.34 (1m) (d) 2.

SB550,26 Section 26. 703.11 (2) (d) of the statutes is amended to read:

SB550,10,18 703.11 (2) (d) All survey maps and floor plans submitted for filing recording shall be legibly prepared with a binding margin of 1.5 inches on the left side and a one-inch margin on all other sides on durable white media that is 14 inches long by 22 inches wide with a permanent nonfading black image. The maps and plans shall be drawn to a convenient scale.

SB550,27 Section 27. 703.11 (5) of the statutes is amended to read:

SB550,10,25 703.11 (5) Amendment Addendum. Except as provided in s. ss. 703.095 and 703.265, amendment of a condominium plat may be modified only by an addendum that is not included as part of an amendment to the declaration shall be that is accomplished in the same manner as an amendment to the declaration under s. 703.09 (2). An addendum is effective when it is recorded in the manner described under s. 703.07 (2).

SB550,28 Section 28. 703.115 (1) (a) of the statutes is amended to read:

SB550,11,5 703.115 (1) (a) Requires the review to be completed within 10 15 working days after submission of the condominium instrument and provides that, if the review is not completed within this period, the condominium instrument is approved for recording.

SB550,29 Section 29. 703.115 (1) (b) of the statutes is amended to read:

SB550,11,11 703.115 (1) (b) Provides that a condominium instrument may be rejected only if it fails to comply with the applicable requirements of ss. 703.065, 703.095, 703.11 (2) (a), (am), (c) and (d) and (3), 703.275 (5) (1m) (b) and 703.28 (1m) or if the professional land surveyor's certificate under s. 703.11 (4) is not attached to or included in the condominium plat.

SB550,30 Section 30. 703.12 of the statutes is amended to read:

SB550,11,21 703.12 Description of units. A description in any deed or other instrument affecting title to any unit, including a conveyance, as defined in s. 706.01 (4), that makes reference to the letter or, number, or other appropriate designation of the unit on the condominium plat together with a reference to the condominium instruments and, the name of the condominium as it appears in the declaration, the name of the county where the condominium is located, the document numbers assigned to the declaration, and if volume and page numbers are assigned to the declaration, the volume and page where the declaration is recorded, shall be a good and sufficient description for all purposes.

SB550,31 Section 31. 703.13 (4) of the statutes is amended to read:

SB550,12,5 703.13 (4) Change in percentage interest. The percentage interests shall have a permanent character and, except as specifically provided by this chapter, may not be changed without the written consent of all of the unit owners and their mortgagees. Any change shall be evidenced by an amendment to the declaration and recorded among the appropriate land records. The percentage interests may not be separated from the unit to which they appertain. Any instrument, matter, circumstance, action, occurrence, or proceeding in any manner affecting a unit also shall affect, in like manner, the percentage interests appurtenant to the unit.

SB550,32 Section 32 . 703.13 (6) (c) of the statutes is renumbered 703.13 (6) (c) (intro.) and amended to read:

SB550,12,9 703.13 (6) (c) (intro.) An amendment to a declaration shall identify do all of the following:

SB550,12,12 1. Identify the units involved and shall state that the boundaries between those units are being relocated by agreement of the unit owners thereof. The amendment shall contain

SB550,12,15 2. Contain words of conveyance between those unit the owners, and when recorded shall also be indexed in the name of the grantor and grantee of the units identified in subd. 1.

SB550,12,19 3. If the adjoining unit owners have specified in their written application the reallocation between their units of the aggregate undivided interest in the common elements appertaining to those units, the amendment to the declaration shall reflect that reallocation.

SB550,12,23 (cm) An amendment to a declaration under this paragraph par. (c) shall be adopted, at the option of the adjoining unit owners, either under s. 703.09 (2) or by the written consent of the owners of the adjoining units involved and the mortgagees of the adjoining units.

SB550,33 Section 33. 703.13 (6) (d) of the statutes is amended to read:

SB550,13,7 703.13 (6) (d) If the adjoining unit owners have specified in their written application a reasonable reallocation, as determined by the board of directors, of the number of votes in the association or liabilities for future common expenses not specially assessed, appertaining to their units, an amendment modifications to the condominium instruments shall reflect those reallocations. An amendment to a declaration under this paragraph shall be adopted in the manner specified in par. (c) (cm).

SB550,34 Section 34. 703.13 (6) (e) of the statutes is amended to read:

SB550,13,12 703.13 (6) (e) Plats and plans An addendum showing the altered boundaries and the dimensions thereof between adjoining units, and their identifying numbers or letters, shall be prepared. The plats and plans addendum shall be certified as to their its accuracy in compliance with this subsection by a professional land surveyor.

SB550,35 Section 35. 703.13 (6) (f) of the statutes is amended to read:

SB550,13,20 703.13 (6) (f) After appropriate instruments have been prepared and executed, they shall be delivered promptly to the adjoining unit owners upon payment by them of all reasonable charges costs for the preparation thereof. Those instruments are effective when the adjoining unit owners have executed them and they are recorded in the name of the grantor and grantee. The recordation thereof is conclusive evidence that the relocation of boundaries did not violate any restriction or limitation in the condominium instruments.

SB550,36 Section 36. 703.13 (7) (a) of the statutes is renumbered 703.13 (7) (am).

SB550,37 Section 37. 703.13 (7) (ac) of the statutes is created to read:

SB550,13,24 703.13 (7) (ac) In this subsection, “separator” means a person proposing the separation of a unit.

SB550,38 Section 38. 703.13 (7) (b) of the statutes is amended to read:

SB550,14,5 703.13 (7) (b) The principal officer of the association, upon written application of a person proposing the separation of a unit (separator) separator and after 30 days' written notice to all other unit owners, shall promptly prepare and execute appropriate instruments under this subsection. An amendment to the condominium instruments

SB550,14,7 (bm) An amendment to separate a unit into 2 or more units shall assign do all of the following:

SB550,14,9 1. Assign a new identifying number to each new unit created by the separation of a unit, shall allocate.

SB550,14,14 2. Allocate to those units each new unit, on a reasonable basis acceptable to the separator and the executive board, all of the undivided interest in the common element and rights to use the limited common elements and the votes in the association formerly appertaining to the separated unit. The amendment shall reflect

SB550,14,17 3. Reflect a proportionate allocation to the new units of the liability for common expenses and rights to common surpluses formerly appertaining to the subdivided unit.

SB550,39 Section 39. 703.13 (7) (c) of the statutes is amended to read:

SB550,14,23 703.13 (7) (c) Plats and plans An addendum showing the boundaries and dimensions separating the new units together with their other boundaries and their new identifying numbers or letters shall be prepared. The plats and plans addendum shall be certified as to their its accuracy and compliance with this subsection by a professional land surveyor.

SB550,40 Section 40. 703.13 (7) (d) of the statutes is amended to read:

SB550,15,7 703.13 (7) (d) After appropriate instruments have been prepared and executed, they shall be delivered promptly to the separator upon payment by him or her of all reasonable cost for their preparation. Those instruments are effective when the separator has executed them and they are recorded in the name of the separator. The recording of the instruments is conclusive evidence that the separation did not violate any restrictions or limitation specified by the condominium instruments and that any reallocations made under this subsection were reasonable.

SB550,41 Section 41 . 703.13 (8) (b) of the statutes is amended to read:

SB550,15,11 703.13 (8) (b) If the unit owners of adjoining units that may be merged desire to merge the units, the unit owners, after 30 days' written notice to all other unit owners, shall prepare and execute appropriate instruments under this subsection.

SB550,15,13 (bm) An amendment to the condominium instruments shall assign do all of the following:

SB550,15,15 1. Assign a new identifying number to the new unit created by the merger of the units and shall allocate.

SB550,15,18 2. Allocate to the new unit all of the undivided interest in the common elements and rights to use the limited common elements and the votes in the association formerly appertaining to the separate units. The amendment shall reflect

SB550,15,20 3. Reflect an allocation to the new unit of the liability for common expenses and rights to common surpluses formerly appertaining to the separate units.

SB550,15,24 (bp) An amendment to a declaration under this paragraph par. (bm) shall be adopted either under s. 703.09 (2) or by the written consent of the owners of the units to be merged, the mortgagees of those units, if any, and the board of directors of the association.

SB550,42 Section 42. 703.13 (8) (c) of the statutes is amended to read:

SB550,16,4 703.13 (8) (c) Plats and plans An addendum showing the boundaries and dimensions of the new unit together with the new identifying number or letter shall be prepared. The plats and plans addendum shall be certified as to their its accuracy and compliance with this subsection by a professional land surveyor.

SB550,43 Section 43. 703.163 (11) of the statutes is amended to read:

SB550,16,11 703.163 (11) Recording of statutory reserve account statement. Each statutory reserve account statement executed under this section shall bear the name of the condominium as it appears on the declaration, shall be prepared in the standard format for recorded documents under s. 59.43 (2m) and (5) (a), shall comply with s. 706.05 (2) (a) and (b), and shall be recorded with the register of deeds of the county where the condominium instruments are recorded.

SB550,44 Section 44. 703.165 (3) of the statutes is amended to read:

SB550,17,2 703.165 (3) Assessments constitute lien. All assessments, until paid, together with interest on them and actual costs of collection, constitute a lien on the units on which they are assessed, if a statement of lien is filed within 2 years after the date the assessment becomes due. The lien is effective against a unit at the time the assessment became due regardless of when within the 2-year period it is filed. A statement of condominium lien is filed in the land records of with the clerk of circuit court of the county where the unit is located, stating the description of the unit, the name of the record owner, the amount due and the period for which the assessment was due. The clerk of circuit court shall index the statement of condominium lien under the name of the record owner in the judgment and lien docket. The statement of condominium lien shall be signed and verified by an officer or agent of the association as specified in the bylaws and then may be filed. On full payment of the assessment for which the lien is claimed, the unit owner shall be entitled to a satisfaction of the lien that may be filed with the clerk of circuit court.

SB550,45 Section 45. 703.19 (5) of the statutes is amended to read:

SB550,17,12 703.19 (5) Adjustment of percentage interests following taking; effect of taking on votes appurtenant to unit. Following the taking of all or a part of any unit, the percentage interests appurtenant to the unit shall be adjusted in proportion as provided in the condominium instruments or bylaws. The association promptly shall prepare and record an amendment to the declaration reflecting the new percentage interests appurtenant to the unit. Subject to sub. (7), following the taking of part of a unit, the votes appurtenant to that unit shall be appurtenant to the remainder of that unit, and following the taking of all of a unit, the right to vote appurtenant to the unit shall terminate.

SB550,46 Section 46. 703.26 (2) (intro.) of the statutes is amended to read:

SB550,17,16 703.26 (2) Conditions to which reservation subject. (intro.) A reservation of the right to expand a condominium is subject to all of the following conditions provided in this subsection.:

SB550,47 Section 47. 703.26 (2) (a) of the statutes is amended to read:

SB550,17,19 703.26 (2) (a) A The declaration establishing a the condominium shall describe describes each parcel of property which that may be added to the condominium.

SB550,48 Section 48. 703.26 (2) (b) of the statutes is renumbered 703.26 (2) (b) 1. (intro.) and amended to read:

SB550,17,23 703.26 (2) (b) 1. (intro.) A The declaration establishing a the condominium shall show the shows all of the following:

SB550,17,25 a. The maximum number of units which that may be added, and the to the condominium.

SB550,18,3 b. The percentage interests in the common elements, the liabilities for common expenses, and the rights to common surpluses , and the appurtenant to each unit following the addition of property to the condominium.

SB550,18,7 c. The number of votes appurtenant to each unit following the addition of property to the condominium, if added. The percentage interests in the common elements, the liabilities for common expenses and the rights to common surpluses, and the number of votes that each unit owner will have

SB550,18,10 2. The information under subd. 1. b. and c. may be shown by reference to a formula or other appropriate method of determining them following each expansion of the condominium.