SB590,17,3
1703.26
(2) (a)
A
The declaration establishing
a the condominium
shall
2describe describes each parcel of property
which that may be added to the
3condominium.
SB590,46
4Section
46. 703.26 (2) (b) of the statutes is renumbered 703.26 (2) (b) 1. (intro.)
5and amended to read:
SB590,17,76
703.26
(2) (b) 1. (intro.)
A
The declaration establishing
a the condominium
7shall show the shows all of the following:
SB590,17,9
8a. The maximum number of units
which that may be added
, and the
to the
9condominium.
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10b. The percentage interests in the common elements, the liabilities for common
11expenses
, and the rights to common surpluses
, and the appurtenant to each unit 12following the addition of property to the condominium.
SB590,17,16
13c. The number of votes appurtenant to each unit following the addition of
14property to the condominium, if added.
The percentage interests in the common
15elements, the liabilities for common expenses and the rights to common surpluses, 16and the number of votes that each unit owner will have
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172. The information under subd. 1. b. and c. may be shown by reference to a
18formula or other appropriate method of determining them following each expansion
19of the condominium.
SB590,47
20Section
47. 703.26 (2) (c) of the statutes is amended to read:
SB590,17,2421
703.26
(2) (c)
A condominium
The plat for
an the original condominium
shall
22include, in general terms, includes the outlines of the land
, and, in general terms, the
23location of the buildings
, and common elements of new property that may be added
24to the condominium.
SB590,48
25Section 48
. 703.26 (2) (d) of the statutes is amended to read:
SB590,18,3
1703.26
(2) (d)
In a declaration establishing a condominium, a The right to
2expand the condominium
may be is reserved in the declaration for a period not
3exceeding 10 years from the date of recording of the declaration.
SB590,49
4Section
49. 703.26 (3) of the statutes is amended to read:
SB590,18,75
703.26
(3) Recordation of Recording amendments to declaration and plat
6addenda. (a) If the conditions of sub. (2) are
complied with met, property may be
7added to a condominium if the declarant records
an
all of the following:
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81. An amendment
to the declaration, showing that shows the new percentage
9interests of the unit owners
, and the votes
which that each unit owner may cast in
10the condominium as expanded
, and records an.
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112. An addendum
to the condominium plat that includes the detail and
12information concerning the new property
as required in the original condominium 13that is required for a plat
under s. 703.11 (2), (3), and (4).
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(b) On recording of an amendment
of a declaration and an addendum
to a plat
15under par. (a), each unit owner, by operation of law, has
the all of the following:
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161. The percentage interests in the common elements, liabilities in the common
17expenses,
and rights to common surpluses,
and shall have the as set forth in the
18amendment.
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192. The number of votes
, appurtenant to the unit owner's unit, as set forth in the
20amendment
to the declaration.
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21(c) Following any expansion, the interest of any mortgagee shall attach, by
22operation of law, to the new percentage interests in the common elements
23appurtenant to the unit on which it is a lien.
SB590,50
24Section
50. 703.26 (3) (d) of the statutes is created to read:
SB590,19,3
1703.26
(3) (d) Property included in a reservation of the right to expand is not
2subject to the condominium declaration and is not part of the condominium until an
3amendment and addendum adding the property to the condominium are recorded.
SB590,51
4Section
51. 703.265 (3) of the statutes is amended to read:
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703.265
(3) An addendum made under this section shall be recorded as
6provided under s. 703.095
(2).
SB590,52
7Section 52
. 703.275 (1) (title) of the statutes is renumbered 703.275 (1m)
8(title).
SB590,53
9Section
53. 703.275 (1) of the statutes is renumbered 703.275 (1m) (a) and
10amended to read:
SB590,19,2011
703.275
(1m) (a) Any 2 or more condominiums, including 2 or more small
12condominiums or any combination of small condominiums and other condominiums,
13by agreement of the unit owners as provided in this section, may be merged or
14consolidated into a single condominium. Unless the agreement otherwise provides,
15the
resultant condominium
resulting from a merger or consolidation is, for all
16purposes, the legal successor of all of the preexisting condominiums and the
17operations and activities of all associations of the preexisting condominiums shall be
18merged or consolidated into a single association which shall hold all powers, rights,
19obligations, assets and liabilities of the preexisting associations. The resultant
20condominium
must shall bear the name of one of the preexisting condominiums.
SB590,54
21Section
54. 703.275 (1c) of the statutes is created to read:
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703.275
(1c) Definitions. In this section:
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(a) “Preexisting condominium” means a condominium that existed before a
24merger or consolidation under this section.