DEEDED SPACE
Condo Parking & Storage Continued From Page 27
Limited Common Element Parking & Storage or “LCE Space”
LCE space is similar to deeded space in terms of ownership, but LCE space is tied to a specific unit. LCE space will be designated to specific units in the original condominium declaration, in the survey map and plans and/or listed in the initial conveyance deed from the developer to the unit owner. The LCE space typically can only be transferred with the unit as it follows the unit with any subsequent conveyance, even if the transfer deed does not include a description of the LCE space.
LCE space typically transfers with the unit, even if the transfer deed does not include a description of it.
However, the governing documents may permit transferring or exchanging LCE spaces with another unit owner by following the process described in the governing documents. The declaration, survey map and plans, or conveyance deed must specifically state that the space is a “Limited Common Element” and describe with specificity the unit to which it is assigned. Once assigned, the unit owner must follow the provisions in the declaration to transfer or exchange spaces with another unit owner.
28 Community Associations Journal | October 2022
SPACE LCE
The governing documents may outline the provisions for transfering LCE space to another unit owner.
Transfering LCE Space
The declaration will contain provisions describing the procedure for transferring LCE spaces. The most common transfer process requires an amendment to the declaration. The governing documents may contain provisions requiring the unit owners involved in the transfer to pay all costs associated with the amendment and transfer of the space.
This requires an amendment to the declaration.
The unit owners involved in the transfer must agree to the exchange/transfer and engage counsel to draft the amendment. The amendment must be signed by the owners involved in the exchange/transfer and their signatures must be notarized. The owners then shall present the amendment to the board of directors of the association for approval. A majority of the board must approve the amendment and after approval, the amendment must be signed by the president and secretary of the association and their signatures must be notarized. The fully executed amendment must be recorded in the public records of the county in which the condominium is located. The amendment becomes effective and part
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