Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
515B.4-103 COMMON INTEREST COMMUNITIES SUBJECT TO RIGHTS TO ADD
ADDITIONAL REAL ESTATE.
If the declaration provides that a common interest community is subject to any rights to
add additional real estate:
(1) the disclosure statement shall include the following notice:
"The following notice is required by Minnesota Statutes. The declarant has reserved in the
declaration certain rights to add additional real estate. These rights allow a declarant to add
units or common elements to a common interest community, and to make other changes to the
community over a specified period of time. These changes may have a substantial effect upon
the units or rights of unit owners, by changing relative voting power and share of common
expenses, by increasing the number of persons using the common elements, by altering the size
and appearance of the common interest community and by making other changes which may
affect the value or utility of the units. A purchaser of units in this common interest community
should consider the possible effects of the declarant's rights reserved for this project"; and
(2) the disclosure statement shall include, in addition to the information required by section
515B.4-102, a statement referencing the provisions of the declaration where rights to add
additional real estate are reserved.
History: 1993 c 222 art 4 s 3
ADDITIONAL REAL ESTATE.
If the declaration provides that a common interest community is subject to any rights to
add additional real estate:
(1) the disclosure statement shall include the following notice:
"The following notice is required by Minnesota Statutes. The declarant has reserved in the
declaration certain rights to add additional real estate. These rights allow a declarant to add
units or common elements to a common interest community, and to make other changes to the
community over a specified period of time. These changes may have a substantial effect upon
the units or rights of unit owners, by changing relative voting power and share of common
expenses, by increasing the number of persons using the common elements, by altering the size
and appearance of the common interest community and by making other changes which may
affect the value or utility of the units. A purchaser of units in this common interest community
should consider the possible effects of the declarant's rights reserved for this project"; and
(2) the disclosure statement shall include, in addition to the information required by section
515B.4-102, a statement referencing the provisions of the declaration where rights to add
additional real estate are reserved.
History: 1993 c 222 art 4 s 3
Official Publication of the State of Minnesota
Revisor of Statutes