2005 Idaho Code - 55-1510 — REMOVAL OF PROPERTY FROM LAW -- COMMON OWNERSHIP -- RESUBMISSION

                                  TITLE  55
                             PROPERTY IN GENERAL
                                  CHAPTER 15
                           CONDOMINIUM PROPERTY ACT
    55-1510.  REMOVAL OF PROPERTY FROM LAW -- COMMON OWNERSHIP --
RESUBMISSION. Unless otherwise provided in the declaration, a project may be
removed from the provisions of this act by a vote or written consent of the
condominium owners owning at least a two-thirds (2/3) interest in the common
areas as percentages of interest are allocated pursuant to section
55-1505(1)(c)[, Idaho Code], and by filing for record in the county where the
project is located a written instrument signed and acknowledged by such owners
wherein it is stated that such described project is so withdrawn, provided,
holders of all liens affecting any of the units or the common must consent or
agree thereto in writing by recorded written instrument in which event their
liens shall be deemed forthwith, and without change of seniority, transferred
(a) to the former condominium owner's undivided interest in the property as
hereinafter provided if such lien was upon a condominium, and (b) upon the
entire property if the lien was specifically upon the common areas or the
project as a whole and not upon any particular condominium or condominiums;
provided further, however, nothing herein contained shall be construed to
restrict the right to limit, prohibit or make other provisions respecting
withdrawal from this act by provision in the declaration.
    Upon such removal under this section the property shall be deemed to be
owned in common and each former condominium owner shall have an exclusive
right to the occupancy of what formerly was his unit. Removal of a project
from the provisions of this act shall in no way bar the subsequent
resubmission of the property to the provisions of this act.