[§514B-36] Leasehold units.
129 words·~1 min read·
/hi/514b-36A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§514B-36] Leasehold units. An undivided interest in the land that is subject to a condominium property regime equal to a unit's common interest may be leased to the unit owner, and the unit and its common interest in the common elements exclusive of the land may be conveyed to the unit owner. The conveyance of the unit with an accompanying lease of an interest in the land shall not constitute a division or partition of the common elements, or a separation of the common interest from its unit. Where a deed of a unit is accompanied by a lease of an interest in the land, the deed shall not be construed as conveying title to the land included in the common elements. [L 2005, c 93, pt of §2]