SB590,14,137
703.13
(7) (d) After appropriate instruments have been prepared and executed,
8they shall be delivered promptly to the separator upon payment by him or her of all
9reasonable cost for their preparation. Those instruments are effective when the
10separator has executed them and they are recorded
in the name of the separator. The
11recording of the instruments is conclusive evidence that the separation did not
12violate any restrictions or limitation specified by the condominium instruments and
13that any reallocations made under this subsection were reasonable.
SB590,39
14Section 39
. 703.13 (8) (b) of the statutes is amended to read:
SB590,14,1715
703.13
(8) (b) If the unit owners of adjoining units that may be merged desire
16to merge the units, the unit owners, after 30 days' written notice to all other unit
17owners, shall prepare and execute appropriate instruments under this subsection.
SB590,14,19
18(bm) An amendment to the condominium instruments shall
assign do all of the
19following:
SB590,14,21
201. Assign a new identifying number to the new unit created by the merger of
21the units
and shall allocate.
SB590,14,24
222. Allocate to the new unit all of the undivided interest in the common elements
23and rights to use the limited common elements and the votes in the association
24formerly appertaining to the separate units.
The amendment shall reflect
SB590,15,2
13. Reflect an allocation to the new unit of the liability for common expenses and
2rights to common surpluses formerly appertaining to the separate units.
SB590,15,6
3(bp) An amendment
to a declaration under
this paragraph par. (bm) shall be
4adopted either under s. 703.09 (2) or by the written consent of the owners of the units
5to be merged, the mortgagees of those units, if any, and the board of directors of the
6association.
SB590,40
7Section
40. 703.13 (8) (c) of the statutes is amended to read:
SB590,15,118
703.13
(8) (c)
Plats and plans
An addendum showing the boundaries and
9dimensions of the new unit together with the new identifying number or letter shall
10be prepared. The
plats and plans addendum shall be certified as to
their its accuracy
11and compliance with this subsection by a professional land surveyor.
SB590,41
12Section
41. 703.163 (11) of the statutes is amended to read:
SB590,15,1813
703.163
(11) Recording of statutory reserve account statement. Each
14statutory reserve account statement executed under this section shall bear the name
15of the condominium as it appears on the declaration, shall be prepared in the
16standard format for recorded documents under s. 59.43 (2m)
and (5) (a), shall comply
17with s. 706.05 (2) (a) and (b), and shall be recorded with the register of deeds of the
18county where the condominium instruments are recorded.
SB590,42
19Section
42. 703.165 (3) of the statutes is amended to read:
SB590,16,820
703.165
(3) Assessments constitute lien. All assessments, until paid,
21together with interest on them and actual costs of collection, constitute a lien on the
22units on which they are assessed, if a statement of lien is filed within 2 years after
23the date the assessment becomes due. The lien is effective against a unit at the time
24the assessment became due regardless of when within the 2-year period it is filed.
25A statement of condominium lien is filed
in the land records of with the clerk of circuit
1court of the county where the unit is located, stating the description of the unit, the
2name of the record owner, the amount due and the period for which the assessment
3was due. The clerk of circuit court shall index the statement of condominium lien
4under the name of the record owner in the judgment and lien docket. The statement
5of condominium lien shall be signed and verified by an officer or agent of the
6association as specified in the bylaws and then may be filed. On full payment of the
7assessment for which the lien is claimed, the unit owner shall be entitled to a
8satisfaction of the lien that may be filed with the clerk of circuit court.
SB590,43
9Section
43. 703.19 (5) of the statutes is amended to read:
SB590,16,1810
703.19
(5) Adjustment of percentage interests following taking; effect of
11taking on votes appurtenant to unit. Following the taking of all or a part of any unit,
12the percentage interests appurtenant to the unit shall be adjusted in proportion as
13provided in the condominium instruments or bylaws. The association promptly shall
14prepare and record an amendment
to the declaration reflecting the new percentage
15interests appurtenant to the unit. Subject to sub. (7), following the taking of part of
16a unit, the votes appurtenant to that unit shall be appurtenant to the remainder of
17that unit, and following the taking of all of a unit, the right to vote appurtenant to
18the unit shall terminate.
SB590,44
19Section
44. 703.26 (2) (intro.) of the statutes is amended to read:
SB590,16,2220
703.26
(2) Conditions to which reservation subject. (intro.) A reservation of
21the right to expand a condominium is subject to
all of the
following conditions
22provided in this subsection.:
SB590,45
23Section
45. 703.26 (2) (a) of the statutes is amended to read:
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.
SB590,17,12
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
SB590,17,19
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: