Vermont § 1316 Termination, dissolution

Vermont Statutes

§ 1316 — Termination, dissolution

Vermont § 1316

Title 27Title 27: Property

Ch. 15Chapter 015: Condominium Ownership Act

This text of Vermont § 1316 (Termination, dissolution) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 27, § 1316 (2026).

Text

(a)All of the apartment or site owners may remove a property from the provisions of this chapter by an instrument to that effect, duly recorded, if the holders of all liens affecting any of the apartments or sites consent or agree, in either case by instruments duly recorded, that their liens be transferred to the percentage of the undivided interest of the apartment or site owner in the property as provided in this section.

(b)Upon removal of the property from the provisions of this chapter, the property shall be considered to be owned in common by the apartment or site owners. The undivided interest in the property owned in common which shall appertain to each apartment or site owner shall be the percentage of undivided interest previously owned by the owner in the common areas and fac

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(a) All of the apartment or site owners may remove a property from the provisions of this chapter by an instrument to that effect, duly recorded, if the holders of all liens affecting any of the apartments or sites consent or agree, in either case by instruments duly recorded, that their liens be transferred to the percentage of the undivided interest of the apartment or site owner in the property as provided in this section.
(b) Upon removal of the property from the provisions of this chapter, the property shall be considered to be owned in common by the apartment or site owners. The undivided interest in the property owned in common which shall appertain to each apartment or site owner shall be the percentage of undivided interest previously owned by the owner in the common areas and facilities. (Added 1967, No. 228 (Adj. Sess.), § 16, eff. Jan. 23, 1968; amended 1993, No. 97, § 2; 2023, No. 6, § 363, eff. July 1, 2023.)