The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
CONDOMINIUM OWNERSHIP
(Cite as: 27 V.S.A. § 1316)
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§ 1316. Termination, dissolution
(a) All of the apartment or site owners may remove a property from the provisions of this
chapter by an instrument to that effect, duly recorded, if the holders of all liens
affecting any of the apartments or sites consent or agree, in either case by instruments
duly recorded, that their liens be transferred to the percentage of the undivided
interest of the apartment or site owner in the property as provided in this section.
(b) Upon removal of the property from the provisions of this chapter, the property shall
be considered to be owned in common by the apartment or site owners. The undivided
interest in the property owned in common which shall appertain to each apartment or
site owner shall be the percentage of undivided interest previously owned by the owner
in the common areas and facilities. (Added 1967, No. 228 (Adj. Sess.), § 16, eff. Jan. 23, 1968; amended 1993, No. 97, § 2; 2023, No. 6, § 363, eff. July 1, 2023.)