55-1511. PARTITION — SALE. (a) Where two (2) or more persons own condominiums in a project an action may be brought by one (1) or more of such persons for the partition of the interests comprising the project, as if the owners of all of the condominiums in such project were tenants in common in the entire project in the proportion provided for in the declaration, deeds, or plat or plats entered into with respect to such project, or, in the absence of such provision, in the same proportion as their interests in the common areas of such project; provided, however, that a partition shall be made only upon the showing that:
(1) Three (3) years after the damage to, or destruction or taking of, a material part of the project which renders the project unfit for the use to which it was put prior to such damage, destruction or taking, the project has not been rebuilt, repaired or replaced in a manner which substantially permits such use of the project, or
(2) Three-fourths (3/4) or more of the project has been destroyed, taken, or substantially damaged, and that persons entitled to cast fifty per cent (50%) of the votes to determine whether or not the project shall be repaired, restored or replaced are opposed to such repair, restoration or replacement, or
(3) More than fifty (50) years have elapsed since the first conveyance of a condominium in the project, and that the project is uneconomic or otherwise obsolete, and that persons entitled to cast fifty per cent (50%) of the votes to determine whether or not the project shall be repaired, restored or replaced are opposed to such repair, restoration or replacement, or
(4) That conditions for such a partition provided for in the deed, declaration, plat or plats entered into with respect to such project have been met, whether such conditions be more or less restrictive than the conditions set forth in this section.
(b) The entire project or a part thereof may be sold if it appears that a physical partition cannot be made without prejudice to the respective rights of the persons’ interests therein.
(c) Nothing herein shall be deemed to prevent partition of a condominium as between two (2) or more persons having interests therein.
History:
[55-1511, added 1965, ch. 225, sec. 11, p. 515.]