AB647: Bill Text

AB647,40,21 (d) The association may adopt rules establishing arbitration procedures. Acceptance of a deed to a unit in a small condominium constitutes agreement to the resolution of disputes over operational decisions by arbitration.

AB647, s. 117 Section 117. 703.365 (7) of the statutes is renumbered 703.365 (9) and amended to read:

AB647,41,3 703.365 (9) Expanding condominiums. Section 703.26 does not apply to a small condominium, and the declaration for a small condominium may not provide that s. 703.26 applies to the small condominium.

AB647, s. 118 Section 118. 703.365 (10) of the statutes is created to read:

AB647,41,9 703.365 (10) Resident agent; taxes. In the declaration for a small condominium, the declarant shall designate one of the unit owners as the resident agent of the condominium and shall specify how real estate taxes for the year the condominium is created will be divided among the units if different from the percentage interests in the common elements.

AB647, s. 119 Section 119. 703.365 (11) of the statutes is created to read:

AB647,41,13 703.365 (11) Utility easements. The units and common elements of a small condominium are subject to cross easements for any utility services to other units in the condominium.

AB647, s. 120 Section 120. 703.365 (12) of the statutes is created to read:

AB647,41,16 703.365 (12) Two-unit condominiums. (a) Unless the declaration provides otherwise, units in a 2-unit small condominium shall be insured by the same insurer.

AB647,41,21 (b) Any improvement, decoration, or repair to the exterior of either unit of a 2-unit small condominium must be agreed to by the owners of both units. In the event of a dispute, the matter may be submitted to the board of directors, and the decision of the board of directors may be challenged in an arbitration proceeding in the manner provided in sub. (6) (b) and (c).

AB647, s. 121 Section 121. 709.02 (2) (intro.) of the statutes is amended to read:

AB647,42,2 709.02 (2) (intro.) In regard to a transfer of a condominium unit, as defined in s. 703.02 (15), if the owner is required to provide the information under sub. (1), the owner shall furnish, in addition to and at the same time as the information required under sub. (1), all the following information as an addendum to the real estate condition report under s. 709.03:

AB647, s. 122 Section 122. 709.02 (2) (d) of the statutes is amended to read:

AB647,42,5 709.02 (2) (d) A Unless excused by s. 703.365, a copy of the executive summary required under s. 703.33 (1) (h).

AB647, s. 123 Section 123. Initial applicability.

AB647,42,10 (1) General application. The treatment of sections 703.02 (15), 703.03, 703.15 (2) (a), (b), and (d), and 703.26 (1), (2) (a), and (3) (a) of the statutes first applies to condominiums for which condominium instruments are recorded on the effective date of this subsection.

AB647,42,14 (2) Conversion to condominium. The treatment of section 703.08 (1) (intro.), (2) (intro.), and (3) of the statutes first applies to conversions of residential real properties to condominiums for which notices are delivered on the effective date of this subsection.

AB647,42,17 (3) Compensation recovery. The treatment of section 703.09 (3) (bm) of the statutes first applies to actions to recover compensation with respect to declaration amendments that are recorded on the effective date of this subsection.

AB647,42,19 (4) Director terms. The treatment of section 703.10 (2) (d) of the statutes first applies to bylaws adopted or amended on the effective date of this subsection.

AB647,42,22 (5) Use of common surpluses. The treatment of sections 703.13 (2) and 703.16 (1) of the statutes first applies to common surpluses arising on the effective date of this subsection.

AB647,42,23 (6) Unit boundary relocations, separations, and mergers.

AB647,43,3 (a) The treatment of section 703.13 (6) (b) and (c) of the statutes first applies to unit boundary relocations for which application is made on the effective date of this paragraph.

AB647,43,7 (b) The treatment of section 703.13 (7) (cm) and (dm) of the statutes, the renumbering and amendment of section 703.13 (7) (b), (c), and (d) of the statutes, and the creation of section 703.13 (7) (b) 1. of the statutes first apply to unit separations for which application is made on the effective date of this paragraph.

AB647,43,9 (c) The treatment of section 703.13 (8) (b) of the statutes first applies to unit mergers for which application is made on the effective date of this paragraph.

AB647,43,11 (7) Tolling statute of limitations. The treatment of section 703.15 (6) of the statutes first applies to actions arising on the effective date of this subsection.

AB647,43,13 (8) Declarant obligations. The treatment of section 703.16 (2) (b) of the statutes first applies to obligations arising on the effective date of this subsection.

AB647,43,15 (9) Budgets. The treatment of section 703.161 (2) (intro.) and (g) of the statutes first applies to budgets adopted on the effective date of this subsection.

AB647,43,16 (10) Assessment liens.

AB647,43,18 (a) The treatment of section 703.165 (2) of the statutes first applies to foreclosures commenced on the effective date of this paragraph.

AB647,43,21 (b) The treatment of section 703.165 (3) of the statutes first applies to assessments for which the last installment becomes due on the effective date of this paragraph.

AB647,43,24 (11) Blanket liens. The renumbering and amendment of section 703.25 (3) of the statutes first applies to blanket liens for which lien statements are filed on the effective date of this subsection.

AB647,44,2 (12) Actions for money judgment. The creation of section 703.25 (3) (b) of the statutes first applies to actions commenced on the effective date of this subsection.

AB647,44,5 (13) Resultant condominium plats. The treatment of section 703.275 (4m) of the statutes first applies to plats of resultant condominiums that are recorded on the effective date of this subsection.

AB647,44,9 (14) Removals from condominium provisions. The treatment of sections 703.28 (1), (1m), (2), (2m), (3), and (4) and 703.29 of the statutes first applies to removals with respect to which removal instruments are recorded on the effective date of this subsection.

AB647,44,10 (15) Small condominiums.

AB647,44,12 (a) The treatment of section 703.365 (6) and (12) (b) of the statutes first applies to actions or expenditures that are proposed on the effective date of this paragraph.

AB647,44,15 (b) The treatment of section 703.365 (7), (10), and (12) (a) of the statutes first applies to small condominiums for which condominium instruments are recorded on the effective date of this paragraph.

AB647,44,19 (16) Local review of instruments before recording. The renumbering of section 703.115 (1) of the statutes and the creation of section 703.115 (1c) of the statutes first apply to condominium instruments that are submitted for recording on the effective date of this subsection.

AB647,44,20 (End)