Vermont § 3-105 Termination of contracts and leases of declarant

Vermont Statutes

§ 3-105 — Termination of contracts and leases of declarant

Vermont § 3-105

Title 27ATitle 27A: Uniform Common Interest Ownership Act (1994)

Ch. 3Article 003: Management of the Common Interest Community

This text of Vermont § 3-105 (Termination of contracts and leases of declarant) 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. 27A, § 3-105 (2026).

Text

(a)Within two years after the executive board elected by the unit owners pursuant to subsection 3-103(f) of this title takes office, the association may terminate without penalty, upon at least 90 days’ notice to the other party, any of the following if entered into before the executive board was elected:

(1)any management, maintenance, operations, or employment contract, or lease of recreational or parking areas or facilities; or

(2)any other contract or lease between the association and a declarant or an affiliate of a declarant.

(b)At any time after the executive board elected by the unit owners pursuant to subsection 3-103(f) of this title takes office, the association may terminate without penalty, upon at least 90 days’ notice to the other party, any contract or lease that is not

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(a) Within two years after the executive board elected by the unit owners pursuant to subsection 3-103(f) of this title takes office, the association may terminate without penalty, upon at least 90 days’ notice to the other party, any of the following if entered into before the executive board was elected:
(1) any management, maintenance, operations, or employment contract, or lease of recreational or parking areas or facilities; or
(2) any other contract or lease between the association and a declarant or an affiliate of a declarant.
(b) At any time after the executive board elected by the unit owners pursuant to subsection 3-103(f) of this title takes office, the association may terminate without penalty, upon at least 90 days’ notice to the other party, any contract or lease that is not bona fide or was unconscionable to the unit owners at the time the contract was entered into.
(c) This section does not apply to a lease that if terminated would terminate the common interest community or reduce its size, unless the real estate subject to that lease was included in the common interest community for the purpose of avoiding the right of the association to terminate a lease under this section. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999; amended 2009, No. 155 (Adj. Sess.), § 27, eff. Jan. 1, 2012.)