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.
515.16 REMOVAL FROM PROVISIONS OF SECTIONS 515.01 TO 515.29.
(a) All of the apartment owners may remove a property from the provisions of sections
515.01 to 515.29 by an instrument to that effect, duly recorded, provided that the holders of all
liens affecting any of the apartments consent thereto or agree, in either case by instruments duly
recorded, that their liens be transferred to the percentage of the undivided interest of the apartment
owner in the property as hereinafter provided.
(b) Upon removal of the property from the provisions of sections 515.01 to 515.29, the
property shall be deemed to be owned in common by the apartment owners. The undivided
interest in the property owned in common which shall appertain to each apartment owner shall be
the percentage of undivided interest previously owned by such owner in the common areas and
facilities.
History: 1963 c 457 s 16
(a) All of the apartment owners may remove a property from the provisions of sections
515.01 to 515.29 by an instrument to that effect, duly recorded, provided that the holders of all
liens affecting any of the apartments consent thereto or agree, in either case by instruments duly
recorded, that their liens be transferred to the percentage of the undivided interest of the apartment
owner in the property as hereinafter provided.
(b) Upon removal of the property from the provisions of sections 515.01 to 515.29, the
property shall be deemed to be owned in common by the apartment owners. The undivided
interest in the property owned in common which shall appertain to each apartment owner shall be
the percentage of undivided interest previously owned by such owner in the common areas and
facilities.
History: 1963 c 457 s 16
Official Publication of the State of Minnesota
Revisor of Statutes