RSA 356-B:17 · Allocation of Interests in the Common Areas

356-B:17 Allocation of Interests in the Common Areas. –

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I.

The declaration may allocate to each unit depicted on site plans and floor plans that comply with RSA 356-B:20, I and II an undivided interest in the common areas proportionate to either the size or value of each unit.

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II.

Otherwise, the declaration shall allocate to each such unit an equal undivided interest in the common areas subject to the following exception: each convertible space so depicted shall be allocated an undivided interest in the common areas proportionate to the size of each such space, vis-a-vis the aggregate size of all units so depicted, while the remaining undivided interests in the common areas shall be allocated equally to the other units so depicted.

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III.

The undivided interests in the common areas allocated in accordance with paragraph I or II shall add up to one if stated as fractions or 100 percentum if stated as percentages.

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IV.

If, in accordance with paragraph I or II, an equal undivided interest in the common areas is allocated to each unit, the declaration may simply state that fact and need not express the fraction or percentage so allocated.

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V.

Otherwise, the undivided interest allocated to each unit in accordance with paragraph I or II shall be reflected by a table in the declaration, or by an exhibit or schedule accompanying the declaration and recorded simultaneously therewith, containing 3 columns. The first column shall identify the units, listing them serially or grouping them together in the case of units to which identical undivided interests are allocated. Corresponding figures in the second and third columns shall set forth the respective areas or values of those units and the fraction or percentage of undivided interest in the common areas allocated thereto.

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VI.

Except to the extent otherwise expressly provided by this chapter, the amount of undivided interest in the common areas allocated to any unit shall not be altered, and any purported transfer, encumbrance or other disposition of that interest without the unit to which it appertains shall be void.

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VII.

The common areas shall not be subject to any suit for partition until and unless the condominium is terminated. Source. 1977, 468:1, eff. Sept. 10, 1977.

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