§ 34-36-22 - Removal of property from application of chapter. - Rhode-island Statutes

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Statutes > Rhode-island > Title-34 > Chapter-34-36 > 34-36-22

SECTION 34-36-22

§ 34-36-22 Removal of property fromapplication of chapter. – (a) All of the unit owners may remove a property from the provisions of thischapter by an instrument duly recorded to that effect, provided that theholders of all liens affecting any of the units consent or agree by instrumentsduly recorded, that their liens be transferred to the percentage of theundivided interest of the unit owner in the property.

(b) Upon removal of the property from the provisions of thischapter, 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 toeach unit owner shall be the percentage of undivided interest previously ownedby such owner in the common areas and facilities.

State Codes and Statutes

Statutes > Rhode-island > Title-34 > Chapter-34-36 > 34-36-22

SECTION 34-36-22

§ 34-36-22 Removal of property fromapplication of chapter. – (a) All of the unit owners may remove a property from the provisions of thischapter by an instrument duly recorded to that effect, provided that theholders of all liens affecting any of the units consent or agree by instrumentsduly recorded, that their liens be transferred to the percentage of theundivided interest of the unit owner in the property.

(b) Upon removal of the property from the provisions of thischapter, 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 toeach unit owner shall be the percentage of undivided interest previously ownedby such owner in the common areas and facilities.

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State Codes and Statutes

Statutes > Rhode-island > Title-34 > Chapter-34-36 > 34-36-22

SECTION 34-36-22

§ 34-36-22 Removal of property fromapplication of chapter. – (a) All of the unit owners may remove a property from the provisions of thischapter by an instrument duly recorded to that effect, provided that theholders of all liens affecting any of the units consent or agree by instrumentsduly recorded, that their liens be transferred to the percentage of theundivided interest of the unit owner in the property.

(b) Upon removal of the property from the provisions of thischapter, 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 toeach unit owner shall be the percentage of undivided interest previously ownedby such owner in the common areas and facilities.