Louisiana Revised Statutes 9:1122.106 – Reapportionment among unit owners of the percentage ownership interest in the common elements; percentages of sharing common expenses and common surplus; voting power in the association of unit owners
Terms Used In Louisiana Revised Statutes 9:1122.106
- association: means a corporation, or unincorporated association, owned by or composed of the unit owners and through which the unit owners manage and regulate the condominium. See Louisiana Revised Statutes 9:1121.103
- Common elements: means the portion of the condominium property not a part of the individual units. See Louisiana Revised Statutes 9:1121.103
- Common expenses: means :
(a) Expenses of administration, maintenance, repair, and replacement of the common elements. See Louisiana Revised Statutes 9:1121.103
- Condominium property: means all interests in land, improvements thereon, and all servitudes and rights attaching to the condominium. See Louisiana Revised Statutes 9:1121.103
- Declarant: means :
(a) If the condominium has not yet been created, any person who offers to dispose of or disposes of his interest in a unit not previously disposed of; or
(b) If the condominium has been created, any person who has executed a declaration, or an amendment to a declaration to add additional property to the condominium regime, other than persons holding interests in the property solely as security for a debt or persons whose interest in the property will not be conveyed to unit owners. See Louisiana Revised Statutes 9:1121.103
- declaration: means the instrument by which immovable property is made subject to this Part. See Louisiana Revised Statutes 9:1121.103
- Dependent: A person dependent for support upon another.
- Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
If on the date a condominium regime is created, it is the intention of the declarant to add additional units, common elements, or both, to the condominium regime, the declarant shall have the power to change, with respect to individual units in the condominium property, their respective percentage interest in the common elements, their percentage sharing of the common surplus and common expenses and their respective voting rights in the association of unit owners and to reallocate part of said interest to units actually dedicated at a future date upon providing the following particulars in the condominium declaration:
(1) A statement that the respective percentage interest of an individual unit in the common elements, common surplus and common expenses, and the proportionate voting rights of an individual unit in the association, may be changed in the event the declarant actually dedicates additional units, common elements, or both, to the condominium regime.
(2) A formula indicating the method or manner of determining a particular unit’s percentage interest in the common elements, percentage sharing of surplus and common expenses and proportion of voting power in the association, dependent upon the total number of units comprising the entire condominium regime.
(3) The maximum time period, not to exceed a period of seven years subsequent to the date of filing the condominium declaration, during which additional units or common elements or both may be dedicated to the condominium regime.
(4) A description of each parcel of additional immovable property which may be later included in the condominium regime.
(5) If parcels of immovable property may be added to the condominium regime at different times, a statement to that effect, together with (i) either a statement fixing the boundaries of the parcels and regulating the order in which they may be added to the condominium regime or a statement that no assurances are made in those regards, and (ii) a statement as to whether, if any portion of additional immovable property is added to the condominium regime, all or any particular portion of that or any other immovable property must be so added.
(6) A statement of:
(a) The maximum number of condominium units that may be created within any parcel of additional immovable property to be added to the condominium regime, the boundaries of which are fixed pursuant to Paragraph (5).
(b) An indication of those units restricted to residential use.
(c) The maximum number of units per acre that may be created within any such parcels, the boundaries of which are not fixed pursuant to Paragraph (5).
(7) A statement of the extent to which any improvements that may be erected upon each parcel of the additional immovable property which may be added to the condominium regime will be compatible with the existing improvements in the condominium in terms of architectural style, quality of construction, principal materials employed in construction, and size, or a statement that no assurances are made in those regards.
(8) A statement that all covenants in the condominium declaration affecting use, occupancy, and alienation of units will apply to units created within additional parcels of immovable property which may be later added to the condominium regime, or a statement of any differentiations which may be made as to those units.
(9) Any additional common elements that may be included within the condominium in the event additional units are included within the condominium at a later date and specifically indicating what common elements will be added if less than the maximum number of units are later included within the condominium regime, and
(10) A statement of any limitations as to the locations of improvements that may be made within parcels of immovable property to be added to the condominium regime, or a statement that no assurances are made in that regard.
Acts 1979, No. 682, §1.