AB598,16,2416
703.19
(5) Adjustment of percentage interests following taking; effect of
17taking on votes appurtenant to unit. Following the taking of all or a part of any unit,
18the percentage interests appurtenant to the unit shall be adjusted in proportion as
19provided in the condominium instruments or bylaws. The association promptly shall
20prepare and record an amendment
to the declaration reflecting the new percentage
21interests appurtenant to the unit. Subject to sub. (7), following the taking of part of
22a unit, the votes appurtenant to that unit shall be appurtenant to the remainder of
23that unit, and following the taking of all of a unit, the right to vote appurtenant to
24the unit shall terminate.
AB598,45
25Section
45. 703.26 (2) (intro.) of the statutes is amended to read:
AB598,17,3
1703.26
(2) Conditions to which reservation subject. (intro.) A reservation of
2the right to expand a condominium is subject to
all of the
following conditions
3provided in this subsection.:
AB598,46
4Section
46. 703.26 (2) (a) of the statutes is amended to read:
AB598,17,65
703.26
(2) (a)
A The declaration establishing
a the condominium
shall describe 6describes each parcel of property
which that may be added to the condominium.
AB598,47
7Section
47. 703.26 (2) (b) of the statutes is renumbered 703.26 (2) (b) 1. (intro.)
8and amended to read:
AB598,17,109
703.26
(2) (b) 1. (intro.)
A
The declaration establishing
a the condominium
10shall show the shows all of the following:
AB598,17,12
11a. The maximum number of units
which that may be added
, and the
to the
12condominium.
AB598,17,15
13b. The percentage interests in the common elements, the liabilities for common
14expenses
, and the rights to common surpluses
, and the appurtenant to each unit 15following the addition of property to the condominium.
AB598,17,19
16c. The number of votes appurtenant to each unit following the addition of
17property to the condominium, if added.
The percentage interests in the common
18elements, the liabilities for common expenses and the rights to common surpluses, 19and the number of votes that each unit owner will have
AB598,17,22
202. The information under subd. 1. b. and c. may be shown by reference to a
21formula or other appropriate method of determining them following each expansion
22of the condominium.
AB598,48
23Section
48. 703.26 (2) (c) of the statutes is amended to read:
AB598,18,224
703.26
(2) (c)
A condominium
The plat for
an the original condominium
shall
25include, in general terms, includes the outlines of the land
, and, in general terms, the
1location of the buildings
, and common elements of new property that may be added
2to the condominium.
AB598,49
3Section 49
. 703.26 (2) (d) of the statutes is amended to read:
AB598,18,64
703.26
(2) (d)
In a declaration establishing a condominium, a The right to
5expand the condominium
may be is reserved in the declaration for a period not
6exceeding 10 years from the date of recording of the declaration.
AB598,50
7Section
50. 703.26 (3) of the statutes is amended to read:
AB598,18,108
703.26
(3) Recordation of Recording amendments to declaration and plat
9addenda. (a) If the conditions of sub. (2) are
complied with met, property may be
10added to a condominium if the declarant records
an
all of the following:
AB598,18,13
111. An amendment
to the declaration, showing that shows the new percentage
12interests of the unit owners
, and the votes
which that each unit owner may cast in
13the condominium as expanded
, and records an.
AB598,18,16
142. An addendum
to the condominium plat that includes the detail and
15information concerning the new property
as required in the original condominium 16that is required for a plat
under s. 703.11 (2), (3), and (4).
AB598,18,1817
(b) On recording of an amendment
of a declaration and an addendum
to a plat
18under par. (a), each unit owner, by operation of law, has
the all of the following:
AB598,18,21
191. The percentage interests in the common elements, liabilities in the common
20expenses,
and rights to common surpluses,
and shall have the as set forth in the
21amendment.
AB598,18,23
222. The number of votes
,
appurtenant to the unit owner's unit, as set forth in the
23amendment
to the declaration.
AB598,19,3
1(c) Following any expansion, the interest of any mortgagee shall attach, by
2operation of law, to the new percentage interests in the common elements
3appurtenant to the unit on which it is a lien.
AB598,51
4Section
51. 703.26 (3) (d) of the statutes is created to read:
AB598,19,75
703.26
(3) (d) Property included in a reservation of the right to expand is not
6subject to the condominium declaration and is not part of the condominium until an
7amendment and addendum adding the property to the condominium are recorded.
AB598,52
8Section
52. 703.265 (3) of the statutes is amended to read:
AB598,19,109
703.265
(3) An addendum made under this section shall be recorded as
10provided under s. 703.095
(2).
AB598,53
11Section 53
. 703.275 (1) (title) of the statutes is renumbered 703.275 (1m)
12(title).
AB598,54
13Section
54. 703.275 (1) of the statutes is renumbered 703.275 (1m) (a) and
14amended to read: