§514B-3 
Definitions.  As used in this
chapter and in the declaration and bylaws, unless specifically provided
otherwise or required by the context:



"Affiliate
of a developer" means a person that directly or indirectly
controls, is controlled by, or is under common control with, the developer.



"Association"
means the unit owners' association organized under section 514B-102 or under
prior condominium property regime statutes.



"Board"
or "board of directors" means the body, regardless of name,
designated in the declaration or bylaws to act on behalf of the association.



"Commission"
means the real estate commission of the State.



"Common
elements" means:



(1)  All portions
of a condominium other than the units; and



(2)  Any other
interests in real estate for the benefit of unit owners that are subject to the
declaration.



"Common
expenses" means expenditures made by, or financial liabilities of, the
association for operation of the property, and shall include any allocations to
reserves.



"Common
interest" means the percentage of undivided interest in the common
elements appurtenant to each unit, as expressed in the declaration, and any
specified percentage of the common interest means such percentage of the
undivided interests in the aggregate.



"Common
profits" means the balance of all income, rents, profits, and revenues
from the common elements or other property owned by the association remaining
after the deduction of the common expenses.



"Completion
of construction" means the earliest of:



(1)  The issuance
of a certificate of occupancy for the unit;



(2)  The date of
completion for the project, or the phase of the project that includes the unit,
as defined in section 507-43;



(3)  The
recordation of the "as built" amendment to the declaration that
includes the unit;



(4)  The issuance of the architect's certificate of
substantial completion for the project, or the phase of the project that
includes the unit; or



(5)  The date the unit is
completed so as to permit normal occupancy.



"Condominium"
means real estate, portions of which are designated for separate ownership and
the remainder of which is designated for common ownership solely by the owners
of those portions.  Real estate is not a condominium unless the undivided
interests in the common elements are vested in the unit owners.



"Condominium
map" means, however denominated, a map or plan of the condominium property
regime containing the information required by section 514B‑33.



"Converted" or "conversion"
means the submission of a structure to a condominium property regime more than
twelve months after the completion of construction; provided that structures
used as sales offices or models for a project and later submitted to a
condominium property regime shall not be considered to be converted structures.



"Declaration"
means any instrument, however denominated, that creates a condominium,
including any amendments to the instrument.



"Developer"
means a person who undertakes to develop a real estate condominium project,
including a person who succeeds to the interest of the developer by acquiring a
controlling interest in the developer or in the project.



"Development
rights" means any right or combination of rights reserved by a developer
in the declaration to:



(1)  Add real
estate to a condominium;



(2)  Create units,
common elements, or limited common elements within a condominium;



(3)  Subdivide
units, combine units, or convert units into common elements;



(4)  Withdraw real
estate from a condominium;



(5)  Merge
projects or increments of a project; or



(6)  Otherwise
alter the condominium.



"Limited
common element" means a portion of the common elements designated by the
declaration or by operation of section 514B‑35 for the exclusive use of one or more but fewer than all of the
units.



"Majority"
or "majority of unit owners" means the owners of units to which are
appurtenant more than fifty per cent of the common interests.  Any specified
percentage of the unit owners means the owners of units to which are
appurtenant such percentage of the common interest.



"Managing
agent" means any person retained, as an independent contractor, for the
purpose of managing the operation of the property.



"Master
deed" or "master lease" means any deed or lease showing the
extent of the interest of the person submitting the property to the condominium
property regime.



"Material
change" as used in parts IV and V of this chapter means any change
that directly,
substantially, and adversely affects the use or value of:



(1)  A purchaser's unit or appurtenant limited common
elements; or



(2)  Those amenities of the project available for the
purchaser's use.



"Material
fact" means any fact, defect, or condition, past or present, that,
to a reasonable person, would be expected to measurably affect the value of the
project, unit, or property being offered or proposed to be offered for sale.



"Operation
of the property" means the administration, fiscal management, and physical
operation of the property, and includes the maintenance, repair, and
replacement of, and the making of any additions and improvements to, the common
elements.



"Person"
means an individual, firm, corporation, partnership, association, trust, or
other legal entity, or any combination thereof.



"Pertinent change" means, as
determined by the commission, a change not previously disclosed in the most
recent public report that renders the information contained in the public
report or in any disclosure statement inaccurate, including, but not limited
to:



(1)  The size, construction materials, location, or
permitted use of a unit or its appurtenant limited common element;



(2)  The size, use, location, or construction
materials of the common elements of the project; or



(3)  The
common interest appurtenant to the unit.



A pertinent change does not necessarily constitute a
material change.



"Project"
means a real estate condominium project; a plan or project whereby a
condominium of two or more units located within the condominium property regime
are created.



"Property"
means the land, whether or not contiguous and including more than one parcel of
land, but located within the same vicinity, the building or buildings, all
improvements and all structures thereon, and all easements, rights, and
appurtenances intended for use in connection with the condominium, which have
been or are intended to be submitted to the regime established by this
chapter.  "Property" includes parcels with or without upper or lower
boundaries, and spaces that may be filled with air or water.



"Record",
"recordation", "recorded", or "recording" means
to record in the bureau of conveyances in accordance with chapter 502, or to
register in the land court in accordance with chapter 501.



"Resident manager" means any person
retained as an employee by the association to manage, on-site, the operation of
the property.



"Structures" includes but is not
limited to buildings.



"Time share unit" means the actual
and promised accommodations, and related facilities, that are the subject of a
time share plan as defined in chapter 514E.



"Unit"
means a physical or spatial portion of the condominium designated for separate
ownership or occupancy, the boundaries of which are described in the
declaration or pursuant to section 514B‑35, with an exit to a public road or to a common element leading
to a public road.



"Unit
owner" means the person owning, or the persons owning jointly or in
common, a unit and its appurtenant common interest; provided that to such
extent and for such purposes as provided by recorded lease, including the
exercise of voting rights, a lessee of a unit shall be deemed to be the unit
owner. [L 2004, c 164, pt of §2; am L 2005, c 93, §1; am L 2006, c 273, §3]