ID S1111

Revises methods for allocating percentage of ownership interest in common areas to be based on either unit value relative to total property value or square footage of interior floor area relative to total interior floor area.

Changes reallocation frequency from every three years to every five years, and requires square footage-based reallocations only when substantial size changes occur in at least one unit.

Allows unit owners to petition for reevaluation and reallocation of ownership percentages if substantial changes are made to unit values or sizes.

Permits court action to accomplish reallocation if the board of managers fails to act, with prevailing party eligible for attorney's fees and costs for unreasonable pursuit or refusal.

Makes technical corrections to statutory language, changing "Subpart" to "Subsection" in reference to declaration contents.