448.160. Property removed from condominium law, how, effects. - Missouri Statutes

Property removed from condominium law, how, effects.

448.160. All of the unit owners may remove the property fromthe provisions of sections 448.005 to 448.210 by an instrument tothat effect, duly recorded if the holders of all liens affectingany of the units consent thereto or agree, in either case byinstruments duly recorded, that their liens be transferred to theundivided interest of the unit owner. Upon such removal theproperty shall be deemed to be owned in common by all the owners.The undivided interest in the property owned in common whichshall appertain to each owner shall be the percentage ofundivided interest previously owned by such owner in the commonelements.

(L. 1963 p. 648 § 16, A.L. 1983 H.B. 177)