(3) Agreement of the required majority of co owners to termination of the condominium shall be evidenced by their execution of the termination agreement or of ratifications thereof, and the termination shall become effective only when the agreement is so evidenced of record.
The Michigan Condominium Act, MCL 559.101, et seq., contains specific procedures for the termination of a condominium. If a developer has not sold any condominium units, MCL 559.150 permits the developer to unilaterally terminate a condominium project.
Explore Michigan’s condo deconversion statute—owner rights, termination vote requirements, and impacts on condominium communities.
What are the legal requirements for condominium termination and deconversion processes in Michigan? The legal requirements for condominium termination and deconversion processes in Michigan are outlined in the Michigan Condominium Act, specifically under Section 67 of the Act.
(1) Pursuant to sections 50 and 51 of the act, notification of termination shall be given to all parties interested in the project, including the following:
If there is no co owner other than the developer, the developer, with the consent of any interested mortgagee, may unilaterally terminate the condominium project or amend the master deed.
Michigan Laws 559.151 – Termination of condominium project by agreement of developer and unaffiliated co owners
This comprehensive guide explores the essential terminology and processes involved in condominium and cooperative (co op) termination and deconversion in Michigan.
The Uniform Condominium Act, for example, has five key articles: General Provisions; Creation, Alteration, and Termination of Condominiums; Management of Condominium; Protection of Condominium Purchasers; and Administration and Registration of Condominiums.
(1) Each condominium subdivision may be amended to reflect changes in the boundaries of a condominium unit, or the addition or elimination of condominium units which are constituted as a replat, as specified in section 67 of the act.
3 way switch,3 way switch wiring,3 way switch wiring diagram pdf,3 way wiring diagram,3way switch wiring diagram,4 prong dryer outlet wiring diagram,4 prong trailer wiring diagram,6 way trailer wiring diagram,7 pin trailer wiring diagram with brakes,7 pin wiring diagram,alternator wiring diagram,amp wiring diagram,automotive lighting,cable harness,chevrolet,diagram,dodge,doorbell wiring diagram,ecobee wiring diagram,electric motor,electrical connector,electrical wiring,electrical wiring diagram,ford,fuse,honeywell thermostat wiring diagram,ignition system,kenwood car stereo wiring diagram,light switch wiring diagram,lighting,motor wiring diagram,nest doorbell wiring diagram,nest hello wiring diagram,nest labs,nest thermostat,nest thermostat wiring diagram,phone connector,pin,pioneer wiring diagram,plug wiring diagram,pump,radio,radio wiring diagram,relay,relay wiring diagram,resistor,rj45 wiring diagram,schematic,semi-trailer truck,sensor,seven pin trailer wiring diagram,speaker wiring diagram,starter wiring diagram,stereo wiring diagram,stereophonic sound,strat wiring diagram,switch,switch wiring diagram,telecaster wiring diagram,thermostat wiring,thermostat wiring diagram,trailer brake controller,trailer plug wiring diagram,trailer wiring diagram,user guide,wire,wire diagram,wiring diagram,wiring diagram 3 way switch,wiring harness