Note
This part, referenced as repealed in the main volume, was reenacted by L 2007, c 244, pt of §2. Source notes for the sections in this part begin with L 2007, c 244.
Cross References
Association documents to be provided, see §514B-154.5.
§514A-90.6 Lease rent renegotiation. (a) Notwithstanding any provision in the declaration or bylaws of any property subject to this chapter, any lease or sublease of the property or of an apartment, or an undivided interest in the land to an apartment owner, whenever any lease or sublease of the property, an apartment, or an undivided interest in the land to an apartment owner provides for the periodic renegotiation of lease rent thereunder, the association of apartment owners shall represent the apartment owners in all negotiations and proceedings, including but not limited to appraisal or arbitration, for the determination of lease rent as a common expense of the association.
(b) If some, but not all of the apartment owners have purchased the leased fee interest appurtenant to their apartments, all costs and expenses of the renegotiation shall be assessed to the remaining lessees in the same proportion that the common interest appurtenant to each lessee's apartment bears to the common interest appurtenant to all lessees' apartments. The unpaid amount of this assessment shall constitute a lien upon the lessee's apartment, which may be collected in accordance with sections 514A-90 and 514A-94 in the same manner as an unpaid common expense. [L 2007, c 244, pt of §2]
Section: Previous 514a-85 514a-86 514a-87 514a-88 514a-89 514a-90 514a-90.5 514a-90.6 514a-91 514a-92 514a-92.1 514a-92.2 514a-92.5 514a-93 514a-93.3 NextLast modified: October 27, 2016