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1998 SESSION

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HB 1390 Condominium and Property Owners' Association Acts.

Introduced by: James M. Scott | all patrons    ...    notes | add to my profiles

SUMMARY:

Condominium and Property Owners' Association Acts; powers and duties of such associations. Authorizes the board of directors of a property owners' association to convey common areas taken by eminent domain. Currently, the association is the party in interest in such a proceeding and the board of directors has the power to negotiate with the condemning authority and agree to an award or payment amount for the condemned common areas. This bill goes a step further by allowing the board of directors to convey the subject common area and the president of the association to unilaterally execute and record the deed of conveyance for the subject common area to the condemning authority. The bill also reduces, from 90 to 60 days, the time that consent of a mortgagee is presumed to be received by an association. The bill authorizes associations to send notice of amendments to governing documents requiring the consent of mortgagees to the address filed in the land records or the local tax assessor's office, where the mortgagee has not filed an address with the association, and provides that no mortgagee consent is required if the governing documents are silent on that issue and if the amendment does not specifically affect the rights of the mortgagee. In addition, the bill provides that limited common elements once assigned to a particular unit may be unassigned and converted to common elements with the agreement of the unit owners affected by the reassignment and that the declarant may unilaterally record an amendment to the declaration converting a limited common element appurtenant to a unit owned by the declarant into a common element as long as the declarant continues to own the unit. Current law provides the process by which limited common elements are assigned and reassigned. Additionally, the bill conforms the resale disclosure requirements of the Condominium and Property Owners' Association (POAA) Acts. The bill also (i) eliminates the restriction in the Condominium Act that a proxy terminates at any recess or adjournment of a meeting held within 30 days, (ii) clarifies the purposes for which a board of directors of a POAA may levy a special assessment, and (iii) clarifies the applicability of the POAA to homeowners associations.

The bill also contains numerous technical amendments.


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