| MLS# 1603533 - N916 Hillestad Rd | ||||
| Karen Skor | 4 bed/2 bath | $270,900 | ||
New Accepted Offers
| 1601320 | Bersch, Lyschel | 506 Golden LN | Milton | WI | |||||
| 1516685 | Christie, Marlys | 5831 Lupine Ln 301 | Madison | WI | |||||
| N/A | Frederickson, John | 3986 Hwy 19 | Windsor | WI |
WRA Legal Hot Tip
Q. The agent reviewed Wis. Stat. Chapter 703 relative to condominium common elements which stated that areas located contiguous to a unit’s boundaries are deemed to be limited common elements and need not be shown or designated as limited common elements in the condominium instruments. However, what about underground parking spaces which are deeded to a unit owner? Once deeded, do these parking spaces become limited common elements for the sole exclusive use of the condominium unit owner?
A. Wis. Stat. § 703.02(2) defines “Common elements” as “all of a condominium except its units.” Wis. Stat. § 703.02(10) defines “Limited common elements” as “common elements identified in a declaration or on a condominium plat as reserved for the exclusive use of one or more but less than all of the unit owners.” Wis. Stat. § 703.09(1)(d) provides that the declaration shall contain, “
A general description of the common elements together with a designation of those portions of the common elements that are limited common elements and the unit to which the use of each is restricted. Fixtures designed to serve a single unit, located contiguous to the unit’s boundaries, are deemed limited common elements appertaining to that unit exclusively and need not be shown or designated as limited common elements in the condominium instruments.”
The unit owner would need to review the condominium documents; specifically the condominium declaration and plat to determine what is or is not a limited common element and the rights relating to use and transfer. The declaration or bylaws may permit unit owners to transfer limited common elements by deed to other unit owners, as stated in Wis. Stat § 703.14(2). Accordingly, unit owners may then swap parking spaces or sell a parking space that is not needed using quitclaim deeds. A deeded parking space might also be considered a separate condominium unit. It all depends upon how the underground parking spaces are described in the declaration, plat and any amendments thereto.
Open Saturday Riders
If you have an extra "Open Saturday" rider, please contact Pat Lease at please@kw.com or 279-7161.
No comments:
Post a Comment