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MI SB0610
Bill
AI Summary
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Developers may withdraw undeveloped land or convert undeveloped condominium units to "must be built" status for 10 years after recording the master deed without co-owner consent, or 6 years after the developer's last exercise of expansion/contraction rights, whichever is longer.
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After the applicable time period expires, a condominium association may declare by 2/3 majority vote that undeveloped land reverts to general common elements and construction rights cease.
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Upon association declaration, the developer has 60 days after receiving written notice to withdraw the undeveloped land or convert units to "must be built" status; if not done, the association may record the declaration with the register of deeds.
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Reversions of undeveloped land are only effective if the election, notice, and recording requirements are met, including notice to the local supervisor or assessing officer.
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The provisions do not apply to condominium units no longer owned by the original developer unless the new owner is a successor developer.
Legislative Description
Housing; condominium; reversion of undeveloped units to common elements after period of time; require approval by condominium association. Amends sec. 67 of 1978 PA 59 (MCL 559.167).
Housing: condominium
Last Action
Presented To Governor 6/14/2016 @ 11:58 Am
9/6/2016