TERMINATION OF A CONDOMINIUM KRS 381.9157 Effective 1-1-2011
• A condominium may be terminated only by agreement of unit owners of units to which at least eighty percent (80%) of the votes in the association are allocated.
• The termination agreement shall specify a date after which the agreement will be void unless it is recorded before that date.
• The name of the condominium which shall include the word "condominium" or be followed by the words "a condominium,"
• Name of the association
• Book and Page of the initial Declaration
• Name of every county in which any part of the condominium is situated
• A legal description
• Must be signed by all unit owner
• Signatures must be acknowledged
• Preparation statement (KRS 382.335)
The clerk shall request a return mail address. (KRS 382.240)
A termination agreement and all ratifications thereof shall be recorded in every county in which a portion of the condominium is situated, and is effective only upon recordation.