PART III. 
CREATION, ALTERATION, AND
TERMINATION



OF CONDOMINIUMS



 



Note



 



  Part heading amended by L 2005, c 93, pt of §2.



 



[§514B-31]  Creation.  (a)  To
create a condominium property regime, all of the owners of the fee simple
interest in land shall execute and record a declaration submitting the land to
the condominium property regime.  Upon recordation of the master deed together
with a declaration, the condominium property regime shall be deemed created.



(b)  The condominium property regime shall be subject
to any right, title, or interest existing when the declaration is recorded if
the person who owns the right, title, or interest does not execute or join in
the declaration or otherwise subordinate the right, title, or interest.  A
person with any other right, title, or interest in the land may subordinate
that person's interest to the condominium property regime by executing the
declaration, or by executing and recording a document joining in or
subordinating to the declaration. [L 2005, c 93, pt of §2]