Vermont § 2-107 - Allocation of allocated interests

§ 2-107. Allocation of allocated interests

• (a) The declaration shall allocate to each unit: (1) in a condominium, a fraction or percentage of undivided interests in the common elements
  and in the common expenses of the association pursuant to subsection 3-115(a) of this title and a portion of the votes in the association; and (2) in a planned community, a fraction or percentage of the common expenses of the association
  pursuant to subsection 3-115(a) of this title and a portion of the votes in the association. (b) The declaration shall state the formulas used to establish allocations of interests.
  Those allocations may not discriminate in favor of units owned by the declarant or
  an affiliate of the declarant. (c) If units may be added to or withdrawn from the common interest community, the declaration
  shall state the formulas to be used to reallocate the allocated interests among all
  units included in the common interest community after the addition or withdrawal. (d) The declaration may provide: (1) different allocations of votes to the units on particular matters specified in the
  declaration; (2) cumulative voting only for the purpose of electing members of the executive board;
  and (3) class voting on specified issues affecting the class if necessary to protect valid
  interests of the class. A declarant may not utilize cumulative or class voting for the purpose of evading
  any limitation imposed on declarants by this title nor may units constitute a class
  because they are owned by a declarant. (e) Except for minor variations due to rounding, the sum of the common expense liabilities
  and, in a condominium, the sum of the undivided interests in the common elements allocated
  at any time to all the units shall each equal one if stated as a fraction or 100 percent
  if stated as a percentage. In the event of discrepancy between an allocated interest
  and the result derived from application of the pertinent formula, the allocated interest
  prevails. (f) In a condominium, the common elements are not subject to partition, and any purported
  conveyance, encumbrance, judicial sale, or other voluntary or involuntary transfer
  of an undivided interest in the common elements made without the unit to which that
  interest is allocated, is void. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)