SB590,14 7Section 14. 703.09 (2m) (title) of the statutes is created to read:
SB590,7,88 703.09 (2m) (title) Consent of unit owners and mortgagees; amendments.
SB590,15 9Section 15. 703.09 (3) (title) of the statutes is created to read:
SB590,7,1010 703.09 (3) (title) Compensation for reduction in value; amendments.
SB590,16 11Section 16. 703.09 (4) of the statutes is amended to read:
SB590,7,1712 703.09 (4) Assignment of declarant's interest. A declarant may assign his or
13her rights and obligations as a declarant under this chapter by recording an
14amendment to the declaration that includes the assignment and an acceptance of the
15assignment that is signed by the assignee and acknowledged. A declarant may not
16assign under this subsection less than all of his or her rights and obligations as a
17declarant under this chapter.
SB590,17 18Section 17 . 703.093 (1) of the statutes is amended to read:
SB590,7,2519 703.093 (1) As an alternative to s. 703.09 (2), a condominium declaration may
20be amended under this section if at least two-thirds of the aggregate of the votes
21established under s. 703.09 (1) (f), or a greater percentage if provided in the
22declaration, consent to the amendment in writing and those consents are approved
23by the mortgagees or holders of equivalent security interests in the units. An
24amendment becomes effective when it is recorded in the same manner as the
25declaration
.
SB590,18
1Section 18. 703.093 (7) of the statutes is amended to read:
SB590,8,62 703.093 (7) Any person acquiring a mortgage or equivalent security interest
3on a unit after the affidavit is recorded under sub. (2) may notify the association in
4writing of the mortgage or equivalent security interest lien, identifying the unit on
5which it holds a lien, and signify its approval of or objection to the proposed
6amendment to the declaration.
SB590,19 7Section 19. 703.095 of the statutes is renumbered 703.095 (1) and amended
8to read:
SB590,8,129 703.095 (1) Modifications. A recorded condominium instrument, amendment,
10or addendum may only be modified only by recording an amendment, addendum, or
11correction instrument, or by removal from the provisions of this chapter under s.
12703.28 (1).
SB590,8,15 13(2) Requirements. The register of deeds may not record an amendment,
14addendum, or correction instrument only if it does not refer the document complies
15with s. 703.065, if applicable, and satisfies all of the following criteria:
SB590,8,20 16(a) It refers to the condominium instrument, amendment, or addendum being
17modified or corrected, including the document number assigned to the document
18being modified
, and may not record an amendment or addendum unless it if volume
19and page numbers are assigned to the document being modified or corrected, the
20volume and page where the document is recorded.
SB590,8,23 21(b) It is numbered consecutively or and states that it is an amendment and
22restatement of the condominium instrument being modified or corrected , bears the
23name of the condominium as it appears in the declaration, and identifies
.
SB590,8,24 24(c) Identifies all units in the condominium.
SB590,20 25Section 20. 703.095 (2) (d) of the statutes is created to read:
SB590,9,2
1703.095 (2) (d) Clearly states the changes being made to the condominium
2instrument, amendment, or addendum it is modifying or correcting.
SB590,21 3Section 21. 703.095 (3) of the statutes is created to read:
SB590,9,64 703.095 (3) Correction instrument. A correction instrument may be used only
5to correct a scrivener error on a condominium plat, including erroneous distances,
6angles, directions, bearings, chords, building or unit numbers, and street names.
SB590,22 7Section 22. 703.10 (5) of the statutes is amended to read:
SB590,9,128 703.10 (5) Amendment. The bylaws may be amended by the affirmative vote
9of unit owners having 67 percent or more of the votes. Each particular set forth in
10sub. (2) shall be expressed in the bylaws as amended. Following an amendment to
11the bylaws, the association shall promptly deliver to each unit owner a copy of the
12approved amendment.
SB590,23 13Section 23. 703.11 (2) (b) of the statutes is renumbered 703.11 (2) (b) (intro.)
14and amended to read:
SB590,9,1615 703.11 (2) (b) (intro.) A survey of the property described in the declaration
16complying that satisfies all of the following criteria:
SB590,9,19 171. The survey complies with minimum standards for property surveys adopted
18by the examining board of architects, landscape architects, professional engineers,
19designers and professional land surveyors and showing .
SB590,9,21 202. The survey shows the location of any unit or building located or to be located
21on the property.
SB590,24 22Section 24. 703.11 (2) (b) 3. of the statutes is created to read:
SB590,9,2423 703.11 (2) (b) 3. The survey includes a clear and concise description of the
24surveyed property, as described in s. 236.34 (1m) (d) 2.
SB590,25 25Section 25. 703.11 (2) (d) of the statutes is amended to read: