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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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