Condominium Ownership Act
Utah Code Title 57, Chapter 8
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The below is not updated with new changes to the law after 2018!
57-8-13.10. Condominiums containing convertible land -
Expandable condominiums - Allocation of interests in common areas and
facilities.
(1) If a condominium project contains any convertible land
or is an expandable condominium, then the declaration may not allocate
undivided interests in the common areas and facilities on the basis of par
value unless the declaration:
(a) prohibits the
creation of any units not substantially identical to the units depicted on the
condominium plat recorded pursuant to Subsection 57-8-13(1); or
(b) prohibits the
creation of any units not described under Subsection 57-8-10(3)(a)(vii) in the
case of convertible land, Subsection 57-8-10(4)(a)(xii) in the case of
additional land, and contains from the outset a statement of the par value that
shall be assigned to every unit that may be created.
(2) (a) Interests in the common areas and facilities may not
be allocated to any units to be created within any convertible land or within
any additional land until a condominium plat depicting the same is recorded
pursuant to Subsection 57-8-13(2).
(b)
Simultaneously with the recording of the supplemental condominium plat required
under Subsection (2)(a), the declarant shall execute and record an amendment to
the declaration which reallocates undivided interests in the common areas and
facilities so that the units depicted on the supplemental condominium plat
shall be allocated undivided interests in the common areas and facilities on
the same basis as the units depicted on the condominium plat that was recorded
simultaneously with the declaration pursuant to Subsection 57-8-13(1).
(3) If all of a convertible space is converted into common
areas and facilities, including limited common areas and facilities, then the
undivided interest in the common areas and facilities appertaining to the
convertible space shall afterward appertain to the remaining units and shall be
allocated among them in proportion to their undivided interests in the common
areas and facilities. The principal officer of the unit owners' association or
of the management committee, or any other officer specified in the declaration,
shall immediately prepare, execute, and record an amendment to the declaration
reflecting the reallocation of undivided interest produced by the conversion.
(4) (a) If the expiration or termination of any lease of a
leasehold condominium causes a contraction of the condominium project which
reduces the number of units, or if the withdrawal of withdrawable land of a
contractible condominium causes a contraction of the condominium project which
reduces the number of units, the undivided interest in the common areas and
facilities appertaining to any units so withdrawn shall afterward appertain to
the remaining units, being allocated among them in proportion to their
undivided interests in the common areas and facilities.
(b) The principal officer of the unit owners' association or of the management committee, or any other officer specified in the declaration shall immediately prepare, execute, and record an amendment to the declaration, reflecting the reallocation of undivided interests produced by the reduction of units.
Amended 2003, ch. 265; 2014, ch. 397, eff. May 13, 2014.