Question:
Hello,
In the state of MN our HOA currently owns our shared roofs and exterior of our units. Can this ownership be transferred to the owners through a Convenants amendment? It looks like according to statute
515B.3-113 INSURANCE the HOA shall provide insurance for:
2.
(b) In the case of a common interest community that contains units, or structures within units, sharing or having contiguous walls, siding or roofs, the insurance maintained under subsection (a)(1) shall include those units, or structures within those units, and the common elements. The insurance need not cover the following items within the units: (i) ceiling or wall finishing materials, (ii) finished flooring, . . . etc.
If the HOA SHALL provide the insurance can the homeowners own the roof and siding? We have homeowners asking this question and I cannot locate a statute that says otherwise.
Thank you,
– Kathy
Answer:
Hi Kathy,
Subdividing through an amendment may be possible as the Minnesota Common Interest Ownership Act Section 515B.2-112 may apply. It states that if the governing documents allow, units not exclusively owned by the association can be subdivided into two or more units by an amendment. The unit owners of the units to be subdivided shall prepare and submit an application for approval for an amendment to the governing documents and community plat. The section also contains other details regarding unit subdivision.
As for Section 515B.3-113, the association may still need to comply with the requirements of subsection b regarding insurance to remain compliant. However, it may be best to consult a lawyer for further guidance.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
