703.26 Expanding condominiums.
178 words·~1 min read·
/wi/chapter-703/703-26-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
703.26 Expanding condominiums.
(1)Declarant may reserve right to expand. A declarant may reserve the right to expand a condominium by subjecting additional property to the condominium declaration in such a manner that as each additional property is subjected to the condominium declaration, the percentage of undivided interests in the common elements of the preceding and new property shall be reallocated between the unit owners on the basis of the aggregate undivided interest in the common elements appertaining to the property.
(2)Conditions to which reservation subject. A reservation of the right to expand a condominium is subject to all of the following conditions:
(a)The declaration establishing the condominium describes each parcel of property that may be added to the condominium.
1. The declaration establishing the condominium shows all of the following:
a. The maximum number of units that may be added to the condominium.
b. The percentage interests in the common elements, the liabilities for common expenses, and the rights to common surpluses appurtenant to each unit following the addition of property to the condominium.