Declarants options until termination date
(1) With regard to a flexible condominium, before the termination date, and by recording a supplemental declaration and a supplemental plat in accordance with ORS 100.115 (Recording declaration and plat) and 100.120 (Supplemental declaration and plat required to annex additional property or reclassify variable property), the declarant may:
(a) Reclassify all or a portion of the property designated as variable property in the declaration and on the plat, as one or more general common elements, limited common elements, units or a combination of the elements and units;
(b) Unless designated in the declaration and on the plat or in a supplemental declaration and on the supplemental plat as nonwithdrawable variable property, withdraw all or a portion of the variable property from the condominium; and
(c) Subject to the requirements of ORS 100.105 (Contents of declaration) (7)(m), change the designation of all or a portion of variable property designated withdrawable variable property in the declaration and on the plat or in a supplemental declaration and on the supplemental plat to nonwithdrawable variable property.
(2) Until variable property is withdrawn or reclassified as provided in subsection (1) of this section or under ORS 100.155 (Variable property) (1):
(a) The property is a distinct classification of property and may not be a common element or unit of the condominium.
(b) The property is considered a parcel of real property and is subject to separate assessment and taxation by any taxing unit in like manner as other parcels of real property.
(c) Unless otherwise specifically provided in the declaration or supplemental declaration:
(A) The declarant shall pay all assessments, taxes and other expenses of the variable property. If the declarant fails to pay any expenses of any variable property designated as nonwithdrawable variable property, the board of directors may elect to pay the expenses and assess the unit owners as a common expense. All costs incurred may be charged to the declarant.
(B) Ownership or occupancy of variable property does not confer any right to use the common elements of the condominium.
(C) Ownership or occupancy of units does not confer any right to use variable property.
(D) Variable property is not subject to assessments for expenses of the condominium. [Formerly 94.021; 2001 c.756 §32; 2019 c.69 §10]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information