70-23-403. Common elements -- undivided interest of unit owner. (1) Each unit owner shall be entitled to an undivided interest in the common elements in the percentage expressed in the declaration. Such percentage shall be in the approximate relation that the value of the unit at the date of the declaration bears to the then combined value of all the units having an interest in the particular common elements. Value need not conform to market value.
(2) The percentage of undivided interest of each unit owner in the common elements as expressed in a declaration shall not be altered unless all unit owners having an interest in the particular common element agree thereto and record an amendment to the declaration setting forth the altered percentage of each unit owner having an interest.
History: En. Sec. 6, Ch. 120, L. 1965; R.C.M. 1947, 67-2306.
Structure Montana Code Annotated
Chapter 23. Unit Ownership Act -- Condominiums
Part 4. Nature of the Ownership Interest
70-23-401. Property status of the unit
70-23-402. Exclusive ownership and possession of unit -- joint ownership
70-23-403. Common elements -- undivided interest of unit owner
70-23-404. Common elements -- undivided interest to remain attached to unit
70-23-405. Common elements to remain undivided -- partition prohibited