MI HB5974

Extends the time limit for developers to exercise conversion, expansion, and contraction options in condominium projects from 6 years to 10 years after initial recording of the master deed.

Requires master deeds for convertible condominium areas to include specific references, maximum unit numbers, structure compatibility statements, improvement descriptions, and developer reserved rights for creating limited common elements.

Establishes detailed requirements for expandable condominium projects including descriptions of additional land, restrictions on expansion, maximum unit numbers per portion, and statements regarding successive amendments versus separate project creation.

Specifies requirements for contractable condominium projects including developer election reservations, consent restrictions, time limits, and general descriptions of land subject to withdrawal.

Permits amendments to condominium documents without co-owner consent for modifications of unsold unit types and sizes, and extensions of time limits for expansion, contraction, or conversion activities reserved under sections 31, 32, or 33.