Sec. 1. (a) The owner of the land on which a condominium is declared shall record with the recorder of the county in which the land is situated a declaration. Except as provided in section 2 or 3 of this chapter, the declaration must include the following:
(1) A description of the land on which the building and improvements are or are to be located.
(2) A description of the building, stating:
(A) the number of stories and basements; and
(B) the number of condominium units.
(3) A description of the common areas and facilities.
(4) A description of the limited common areas and facilities, if any, stating to which condominium units their use is reserved.
(5) The percentage of undivided interest in the common areas and facilities appertaining to each condominium unit and its owner for all purposes, including voting.
(6) A statement of the percentage of votes by the condominium unit owners required to determine whether to:
(A) rebuild;
(B) repair;
(C) restore; or
(D) sell;
the property if all or part of the property is damaged or destroyed.
(7) Any covenants and restrictions in regard to the use of:
(A) the condominium units; and
(B) common areas and facilities.
(8) Any further details in connection with the property that:
(A) the person executing the declaration considers desirable; and
(B) are consistent with this article.
(9) The method by which the declaration may be amended in a manner consistent with this chapter.
(10) This subdivision applies only to a condominium located on the shore of a lake located in a township with a population of more than two thousand (2,000) and less than two thousand seven hundred eighty (2,780) located in a county having a population of more than forty-six thousand (46,000) and less than forty-six thousand four hundred (46,400). A statement of the percentage of votes by the condominium unit owners required to convey or encumber part or all of the common areas and facilities. A statement under this subdivision may not allow less than ninety-five percent (95%) of the condominium unit owners, or less than ninety-five percent (95%) of the owners of condominium units not owned by the declarant, to convey or encumber part or all of the common areas and facilities. If the declaration does not include a statement under this subdivision, IC 32-25-4-3.5 applies.
(b) A true copy of the bylaws shall be annexed to and made a part of the declaration.
(c) The record of the declaration shall contain a reference to the:
(1) book;
(2) page; and
(3) date of record;
of the floor plans of the building affected by the declaration.
[Pre-2002 Recodification Citation: 32-1-6-12.]
As added by P.L.2-2002, SEC.10. Amended by P.L.181-2007, SEC.3; P.L.119-2012, SEC.162; P.L.104-2022, SEC.134.
Structure Indiana Code