2018 Vermont Statutes
Title 27A - Uniform Common Interest Ownership Act (1994)
Article 2 - Creation, Alteration, And Termination Of Common Interest Communities
§ 2-107 Allocation of allocated interests

§ 2-107. Allocation of allocated interests

(a) The declaration shall allocate to each unit:

(1) In a condominium, a fraction or percentage of undivided interests in the common elements and in the common expenses of the association pursuant to subsection 3-115(a) of this title and a portion of the votes in the association; and

(2) In a planned community, a fraction or percentage of the common expenses of the association pursuant to subsection 3-115(a) of this title and a portion of the votes in the association.

(b) The declaration shall state the formulas used to establish allocations of interests. Those allocations may not discriminate in favor of units owned by the declarant or an affiliate of the declarant.

(c) If units may be added to or withdrawn from the common interest community, the declaration shall state the formulas to be used to reallocate the allocated interests among all units included in the common interest community after the addition or withdrawal.

(d) The declaration may provide:

(1) different allocations of votes to the units on particular matters specified in the declaration;

(2) cumulative voting only for the purpose of electing members of the executive board; and

(3) class voting on specified issues affecting the class if necessary to protect valid interests of the class.

A declarant may not utilize cumulative or class voting for the purpose of evading any limitation imposed on declarants by this title nor may units constitute a class because they are owned by a declarant.

(e) Except for minor variations due to rounding, the sum of the common expense liabilities and, in a condominium, the sum of the undivided interests in the common elements allocated at any time to all the units shall each equal one if stated as a fraction or 100 percent if stated as a percentage. In the event of discrepancy between an allocated interest and the result derived from application of the pertinent formula, the allocated interest prevails.

(f) In a condominium, the common elements are not subject to partition, and any purported conveyance, encumbrance, judicial sale, or other voluntary or involuntary transfer of an undivided interest in the common elements made without the unit to which that interest is allocated, is void. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)