57-8-24. Common profits, common expenses, and voting rights -- Unit -- Unconstructed unit.
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Effective 3/23/2016
57-8-24. Common profits, common expenses, and voting rights -- Unit -- Unconstructed unit.
(1)A unit is created by the recording of the declaration and a condominium plat that describes the unit.
(2)An association of unit owners shall, according to each unit owner's respective percentage or fractional undivided interests in the common areas and facilities:
(a)distribute the property's common profits among the unit owners;
(b)except as otherwise provided in the declaration for unconstructed units, assess the unit owners the property's common expenses; and
(c)make voting rights available to the unit owners.
(a)After the recording of a condominium project's declaration, an unconstructed unit is a unit for the purposes of the declaration and this chapter, including:
(i)allocation of undivided interests in the common areas and facilities in accordance with Subsection 57-8-7(2) ; and
(ii)voting rights in accordance with Section 57-8-24 .
(b)Subsection (3)(a) applies to a condominium project regardless of when the condominium project's initial declaration was recorded.
Amended by Chapter 210 , 2016 General Session