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381.9113 Eminent domain.
(1)
(2)
(3)
(4)
If a unit is acquired by eminent domain, or if part of a unit is acquired by eminent
domain leaving the unit owner with a remnant which may not practically or lawfully
be used for any purpose permitted by the declaration, the award shall compensate
the unit owner for his or her unit and its interest in the common elements, whether
or not any common elements are acquired. Upon acquisition, unless the decree
otherwise provides, that unit's allocated interests are automatically reallocated to the
remaining units in proportion to the respective allocated interests of those units
before the taking, and the association shall promptly prepare, execute, and record an
amendment to the declaration reflecting the reallocations. Any remnant of a unit
remaining after part of a unit is taken under this subsection is thereafter a common
element.
Except as provided in subsection (1) of this section, if part of a unit is acquired by
eminent domain, the award shall compensate the unit owner for the reduction in
value of the unit and its interest in the common elements, whether or not any
common elements are acquired. Upon acquisition, unless the decree otherwise
provides:
(a) The unit's allocated interests are reduced in proportion to the reduction in the
size of the unit; and
(b) The portion of the allocated interests divested from the partially acquired unit
are automatically reallocated to that unit and the remaining units in proportion
to the respective allocated interests of those units before the taking, with the
partially acquired unit participating in the reallocation on the basis of its
reduced allocated interests.
If part of the common elements is acquired by eminent domain, the portion of the
award attributable to the common elements taken shall be paid to the association
and, unless the declaration provides otherwise, the award attributable to the
acquisition of a limited common element shall be equally divided among the owners
of the units to which that limited common element was allocated at the time of
acquisition.
The court decree shall be recorded in every county in which any portion of the
condominium is located.
Effective: January 1, 2011
History: Created 2010 Ky. Acts ch. 97, sec. 7, effective January 1, 2011.
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