(a)  All of the unit owners may remove a property from the provisions of this chapter by an instrument duly recorded to that effect, provided that the holders of all liens affecting any of the units consent or agree by instruments duly recorded, that their liens be transferred to the percentage of the undivided interest of the unit owner in the property.

contract signature

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Terms Used In Rhode Island General Laws 34-36-22

  • Property: means and includes the land, the building, all improvements and structures thereon, all easements, rights, and appurtenances belonging thereto, and all articles of personal property intended for use in connection therewith. See Rhode Island General Laws 34-36-3
  • Unit: means a part of the property intended for any type of independent use, including one or more rooms or spaces located in one or more floors (or part or parts of floors) in a building. See Rhode Island General Laws 34-36-3
  • Unit owner: means the person or persons owning a unit in fee simple and an undivided interest in the fee simple estate of the common areas and facilities in the percentage specified and established in the declaration. See Rhode Island General Laws 34-36-3

(b)  Upon removal of the property from the provisions of this chapter, the property shall be deemed to be owned in common by the unit owners. The undivided interest in the property owned in common which shall appertain to each unit owner shall be the percentage of undivided interest previously owned by such owner in the common areas and facilities.

History of Section.
P.L. 1963, ch. 181, § 1.