SB550: Bill Text

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.

SB550,49 Section 49. 703.26 (2) (c) of the statutes is amended to read:

SB550,18,15 703.26 (2) (c) A condominium The plat for an the original condominium shall include, in general terms, includes the outlines of the land, and, in general terms, the location of the buildings, and common elements of new property that may be added to the condominium.

SB550,50 Section 50 . 703.26 (2) (d) of the statutes is amended to read:

SB550,18,19 703.26 (2) (d) In a declaration establishing a condominium, a The right to expand the condominium may be is reserved in the declaration for a period not exceeding 10 years from the date of recording of the declaration.

SB550,51 Section 51. 703.26 (3) of the statutes is amended to read:

SB550,18,23 703.26 (3) Recordation of Recording amendments to declaration and plat addenda. (a) If the conditions of sub. (2) are complied with met, property may be added to a condominium if the declarant records an all of the following:

SB550,19,3 1. An amendment to the declaration, showing that shows the new percentage interests of the unit owners, and the votes which that each unit owner may cast in the condominium as expanded, and records an.

SB550,19,6 2. An addendum to the condominium plat that includes the detail and information concerning the new property as required in the original condominium that is required for a plat under s. 703.11 (2), (3), and (4).

SB550,19,8 (b) On recording of an amendment of a declaration and an addendum to a plat under par. (a), each unit owner, by operation of law, has the all of the following:

SB550,19,11 1. The percentage interests in the common elements, liabilities in the common expenses, and rights to common surpluses, and shall have the as set forth in the amendment.

SB550,19,13 2. The number of votes, appurtenant to the unit owner's unit, as set forth in the amendment to the declaration.

SB550,19,16 (c) Following any expansion, the interest of any mortgagee shall attach, by operation of law, to the new percentage interests in the common elements appurtenant to the unit on which it is a lien.

SB550,52 Section 52. 703.26 (3) (d) of the statutes is created to read:

SB550,19,20 703.26 (3) (d) Property included in a reservation of the right to expand is not subject to the condominium declaration and is not part of the condominium until an amendment and addendum adding the property to the condominium are recorded.

SB550,53 Section 53. 703.265 (3) of the statutes is amended to read:

SB550,19,23 703.265 (3) An addendum made under this section shall be recorded as provided under s. 703.095 (2).

SB550,54 Section 54 . 703.275 (1) (title) of the statutes is renumbered 703.275 (1m) (title).

SB550,55 Section 55. 703.275 (1) of the statutes is renumbered 703.275 (1m) (a) and amended to read:

SB550,20,12 703.275 (1m) (a) Any 2 or more condominiums, including 2 or more small condominiums or any combination of small condominiums and other condominiums, by agreement of the unit owners as provided in this section, may be merged or consolidated into a single condominium. Unless the agreement otherwise provides, the resultant condominium resulting from a merger or consolidation is, for all purposes, the legal successor of all of the preexisting condominiums and the operations and activities of all associations of the preexisting condominiums shall be merged or consolidated into a single association which shall hold all powers, rights, obligations, assets and liabilities of the preexisting associations. The resultant condominium must shall bear the name of one of the preexisting condominiums.

SB550,56 Section 56. 703.275 (1c) of the statutes is created to read:

SB550,20,14 703.275 (1c) Definitions. In this section:

SB550,20,16 (a) “Preexisting condominium” means a condominium that existed before a merger or consolidation under this section.

SB550,20,19 (b) “Restatement of the declaration of a resultant condominium” means an amendment to the declaration of the preexisting condominium that bears the same name as the resultant condominium that complies with s. 703.09.

SB550,20,21 (c) “Resultant condominium” means a condominium that results from a merger or consolidation under this section.

SB550,20,24 (d) “Resultant condominium plat” means an addendum to the plat of the preexisting condominium that bears the same name as the resultant condominium that complies with s. 703.11.

SB550,57 Section 57. 703.275 (1m) (b) of the statutes is created to read:

SB550,21,3 703.275 (1m) (b) 1. Except as otherwise provided in this section, a resultant condominium may be created only by recording all of the following, as provided under s. 703.07:

SB550,21,5 a. A restatement of the declaration of the resultant condominium that includes the merger or consolidation agreement.

SB550,21,6 b. A resultant condominium plat.

SB550,21,8 2. a. The documents under subd. 1. shall be presented together to the register of deeds for recording.

SB550,21,11 b. The register of deeds may not record a resultant condominium plat without the restatement of the declaration of the resultant condominium and the merger or consolidation agreement.

SB550,21,19 c. On the plat of each preexisting condominium that is merged or consolidated to create a resultant condominium, the register of deeds shall reference the document number of the resultant condominium plat and, if the plat of the resultant condominium is assigned a volume and page number, the volume and page where the resultant condominium plat is recorded and shall note that the preexisting condominium was merged or consolidated. In a county that maintains a tract index pursuant to s. 59.43 (12m), the register of deeds shall make references to document numbers in the tract index.

SB550,58 Section 58. 703.275 (5) of the statutes is repealed.

SB550,59 Section 59 . 703.28 (1m) (a) of the statutes is repealed.

SB550,60 Section 60 . 703.28 (1m) (b) of the statutes is renumbered 703.28 (1m) and amended to read: