(a) Upon removal of the property from the provisions of this chapter, the property is owned in common by the apartment owners.
(b) The undivided interest in the property owned in common that appertains to each apartment owner is the percentage of the undivided interest previously owned by the owners in the common areas and facilities.
Structure Alaska Statutes
Chapter 07. Horizontal Property Regimes Act
Article 5. Removal of Property From the Horizontal Property Regime.
Sec. 34.07.330. Removal of property from the provisions of this chapter.
Sec. 34.07.340. Ownership of property upon removal from the provisions of this chapter.
Sec. 34.07.350. Removal of property does not bar subsequent resubmission under this chapter.