(a) Each apartment owner has the common right to a share, with other apartment owners, in the common areas and facilities.

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Terms Used In Alaska Statutes 34.07.160

  • apartment: means a part of the property intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floors, or part or parts of the floors, in a building, regardless of whether or not it is destined for a residence, an office, the operation of any industry or business, or for any other use not prohibited by law, and that has a direct exit to a public street or highway, or to a common area leading to the street or highway. See Alaska Statutes 34.07.450
  • apartment owner: means the person or persons owning an apartment in fee simple absolute or qualified, or by way of a periodic estate, or in any other manner in which real property may be owned in this state, together with an undivided interest in a like estate of the common areas and facilities in the percentage specified and established in the recorded declaration. See Alaska Statutes 34.07.450
  • declaration: means the instrument by which the property is submitted to provisions of this chapter and as it may be, from time to time amended. See Alaska Statutes 34.07.450
  • property: means the land, the building, all its improvements and structures, all owned in fee simple absolute or qualified or by way of a periodic estate, or in any other manner in which real property may be owned in the state, and all easements, rights, and appurtenances belonging to it, none of which shall be considered as a security or security interest, and all articles of personalty intended for use in connection with it, that have been or are intended to be submitted to this chapter. See Alaska Statutes 34.07.450
(b) Each apartment owner is entitled to an undivided interest in the common areas and facilities in the percentage expressed in the declaration. The percentage is computed by taking as a basis the value of the apartment in relation to the value of the property.