89-9-25 - Acquisition, etc., of personal property by management body for benefit of condominium owners; transfer of beneficial interest. - Mississippi Statutes

§ 89-9-25. Acquisition, etc., of personal property by management body for benefit of condominium owners; transfer of beneficial interest.
 

Unless otherwise provided by a declaration of restrictions under Section 89-9-17, the management body, if any, provided for therein, may acquire and hold, for the benefit of the condominium owners, tangible and intangible personal property and may dispose of the same by sale or otherwise; and the beneficial interest in such personal property shall be owned by the condominium owners in the same proportion as their respective interests in the common areas, and shall not be transferrable except with a transfer of a condominium. A transfer of a condominium shall transfer to the transferee ownership of the transferor's beneficial interest in such personal property. 
 

Sources: Codes, 1942, § 896-13; Laws,  1964, ch. 270, § 13.