§ 3207. Leasehold condominiums
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 68 Pa.C.S.A. Real and Personal Property
68 Pa.C.S.A. § 3207
§ 3207. Leasehold condominiums
(b) Limitation on termination of leasehold interest.--After the declaration for a leasehold condominium is recorded, neither the lessor nor his successor in interest may terminate the leasehold interest of a unit owner who makes timely payment of his share of the rent and otherwise complies with all covenants which, if violated, would entitle the lessor to terminate the lease. A unit owner's leasehold interest is not affected by failure of any other person to pay rent or fulfill any other covenant.
(c) Merger of leasehold and fee simple interests.--Acquisition of the leasehold interest of any unit owner by the owner of the reversion or remainder does not merge the leasehold and fee simple interests unless the leasehold interests of all unit owners subject to that reversion or remainder are acquired.
(d) Reallocation of interests if number of units reduced.--If the expiration or termination of a lease decreases the number of units in a condominium, the common element interests, votes in the association and common expense liabilities shall be reallocated in accordance with section 3107 (relating to eminent domain) as though those units had been taken by eminent domain. Reallocations shall be confirmed by an amendment to the declaration prepared, executed and recorded by the association.
Credits
1980, July 2, P.L. 286, No. 82, § 1, effective in 120 days.
68 Pa.C.S.A. § 3207, PA ST 68 Pa.C.S.A. § 3207
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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