Uniform Common Interest Ownership Act

Alaska · Property · §§ 34.08.010 to 34.08.995 · 87 sections

Overview

The act provides a common legal framework for real estate developments in which owners hold an individual unit together with a shared interest in property and facilities used by everyone — condominiums, cooperatives, and planned communities alike — defining the common elements, the interests allocated to each unit, and each owner's liability for common expenses. It centers governance on a declaration and related governing documents that create the community, and on a unit-owners' association acting through an executive board, while reserving certain developmental rights to the declarant who creates and builds out the community. It also reaches the sale of units by declarants and dealers, and establishes an administrative layer for oversight of community management, including regulation of community managers and a process for filing and hearing complaints.

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

Sections covered

AS 34.08.010Applicability generally
AS 34.08.020Applicability to small cooperatives. [Repealed, § 10 ch 61 SLA 1986.]
AS 34.08.030Applicability to limited expense liability planned communities
AS 34.08.035Prohibited subdivisions
AS 34.08.040Applicability to preexisting common interest communities
AS 34.08.050Applicability to small preexisting cooperatives and planned communities
AS 34.08.060Amendments to governing instruments
AS 34.08.070Applicability to nonresidential common interest communities
AS 34.08.080Applicability to out-of-state common interest communities
AS 34.08.090Creation of common interest communities
AS 34.08.100Unit boundaries
AS 34.08.110Construction and validity of declaration and bylaws
AS 34.08.120Description of units
AS 34.08.130Contents of declaration
AS 34.08.140Leasehold common interest communities
AS 34.08.150Allocation of allocated interests
AS 34.08.160Limited common elements
AS 34.08.170Plats and plans
AS 34.08.180Exercise of development rights
AS 34.08.190Alterations of units
AS 34.08.200Relocation of boundaries between adjoining units
AS 34.08.210Subdivision of units
AS 34.08.220Easement for encroachments
AS 34.08.230Use for sales purposes
AS 34.08.240Easement rights
AS 34.08.250Amendment of declaration
AS 34.08.255Amendment of a declaration where fewer than 50 percent of unit owners approve
AS 34.08.260Termination of common interest community
AS 34.08.270Rights of secured lenders
AS 34.08.280Master associations
AS 34.08.290Merger or consolidation of common interest communities
AS 34.08.300Addition of unspecified real estate
AS 34.08.310Organization of unit owners' association
AS 34.08.320Powers of unit owners' association
AS 34.08.330Executive board members and officers
AS 34.08.340Transfer of association control
AS 34.08.350Transfer of special declarant rights
AS 34.08.360Termination of contracts and leases of declarant
AS 34.08.370Bylaws
AS 34.08.380Upkeep of common interest community
AS 34.08.390Meetings
AS 34.08.400Quorums
AS 34.08.410Voting and proxies
AS 34.08.420Tort and contract liability
AS 34.08.430Conveyance or encumbrance of common elements
AS 34.08.440Insurance
AS 34.08.450Surplus funds
AS 34.08.460Assessments for common expenses
AS 34.08.470Lien for assessments
AS 34.08.480Other liens
AS 34.08.490Association records
AS 34.08.500Association as trustee
AS 34.08.510Applicability
AS 34.08.520Liability for public offering statement requirements
AS 34.08.530Public offering statements generally
AS 34.08.540Common interest communities subject to development rights
AS 34.08.550Time shares
AS 34.08.560Common interest communities containing conversion property
AS 34.08.570Common interest community securities
AS 34.08.580Purchaser's right to cancel
AS 34.08.590Resales of units
AS 34.08.600Escrow of deposits
AS 34.08.610Release of liens
AS 34.08.620Conversion property
AS 34.08.630Express warranties of quality
AS 34.08.640Implied warranties of quality
AS 34.08.650Exclusion or modification of implied warranties of quality
AS 34.08.660Statute of limitations for warranties
AS 34.08.670Effect of violations on rights of action
AS 34.08.680Labeling of promotional material
AS 34.08.690Declarant's obligation to complete and restore
AS 34.08.700Substantial completion of units
AS 34.08.710Variation by agreement
AS 34.08.720Separate titles and taxation
AS 34.08.730Applicability of local ordinances, regulations, and building codes
AS 34.08.740Eminent domain
AS 34.08.750Supplemental general principles of law applicable
AS 34.08.760Construction against implicit repeal
AS 34.08.770Uniformity of application and construction
AS 34.08.780Severability
AS 34.08.790Unconscionable agreement or term of contract
AS 34.08.800Obligation of good faith
AS 34.08.810Remedies to be liberally administered
AS 34.08.820Adjustment of dollar amounts
AS 34.08.830Transfer of unit in a cooperative
AS 34.08.990Definitions
AS 34.08.995Short title

Enacted in other states

Delaware, Nevada, West Virginia

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