Condominium Ownership Act

The act establishes the legal framework for condominium ownership, under which real property is divided into individually owned units held alongside undivided interests in common areas and facilities. It sets out how a condominium is created and recorded — through a declaration, a plat, and deeds describing each unit — and how a project may later be expanded, contracted, converted, or removed from the statutory regime, while providing for separate taxation of units and the allocation of common expenses, common profits, and voting rights among owners. It also provides the governance structure, requiring bylaws and an owners' association subject to a period of declarant control, and addresses liens against units, insurance and reconstruction after damage, eminent domain awards, rental restrictions, and enforcement of the governing documents.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.