Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.
If, within 90 days after the date of the damage or destruction to all or part of the
property, it is not determined by the association of owners to repair, reconstruct,
or rebuild, then and in that event:
(1) the property shall be considered to be owned in common by the apartment or site owners;
(2) 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;
(3) any liens affecting any of the apartments or sites shall be considered to be transferred
in accordance with the existing priorities to the percentage of the undivided interest
of the apartment or site owner in the property as provided in this section; and
(4) the property shall be subject to an action for partition at the suit of any apartment
or site owner, in which event the net proceeds of a sale, together with the net proceeds
of the insurance on the property, if any, shall be considered as one fund and shall
be divided among all the apartment or site owners in a percentage equal to the percentage
of undivided interest owned by each owner in the property, after first paying out
of the respective shares of the apartment or site owners, to the extent sufficient
for the purpose, all liens on the undivided interest in the property owned by each
apartment or site owner. (Added 1967, No. 288 (Adj. Sess.), § 26, eff. Jan. 23, 1968; amended 1993, No. 97, § 2; 2023, No. 6, § 367, eff. July 1, 2023.)