Rhode Island General Laws 34-36-24. Common profits and expenses – Distribution and charging
Unless otherwise provided in the declaration or lawful amendments thereto, the common profits of the property shall be distributed among, and the common expenses shall be charged to, the unit owners according to the percentage of their undivided interest in the common areas and facilities.
History of Section.
P.L. 1963, ch. 181, § 1.
Terms Used In Rhode Island General Laws 34-36-24
- Common expenses: means and includes:
(i) All sums lawfully assessed against the unit owners;
(ii) Expenses of administration, maintenance, repair, or replacement of the common areas and facilities;
(iii) Expenses agreed upon as common expenses by the association of unit owners;
(iv) Expenses declared common expenses by provisions of this chapter, or by the declaration or the bylaws. See Rhode Island General Laws 34-36-3
- Declaration: means the instrument by which the property is submitted to the provisions of this chapter, as it from time to time may be lawfully amended. See Rhode Island General Laws 34-36-3
- 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