This chapter shall be known and may be cited as the "Unit Property Act."
The following words or phrases as used in this chapter shall have the meanings ascribed to them in this section, unless the context of this chapter clearly indicates otherwise:
(a) "Building" means any multiunit building or buildings or complex thereof, whether in vertical or horizontal arrangement, as well as other improvements comprising a part of the property and used or intended for use for residential, commercial or industrial purposes or for any other lawful purpose or for any combination of such uses.
(b) "Code of regulations" means such governing regulations as are adopted pursuant to this chapter for the regulation and management of the property, including such amendments thereof as may be adopted from time to time.
(c) "Common elements" means and includes:
(i) The land on which the building is located and portions of the building which are not included in a unit;
(ii) The foundations, structural parts, supports, main walls, roofs, basements, halls, corridors, lobbies, stairways and entrances and exits to the building;
(iii) The yards, parking areas and driveways;
(iv) Portions of the land and building used exclusively for the management, operation or maintenance of the common elements;
(v) Installations of all central services and utilities;
(vi) All apparatus and installations existing for common use;
(vii) All other elements of the building necessary or convenient to its existence, management, operation, maintenance and safety or normally in common use; and
(viii) Such facilities as are designated in the declaration as common elements.
(d) "Common expenses" means and includes:
(i) Expenses of administration, maintenance, repair and replacement of the common elements;
(ii) Expenses agreed upon as common by all the unit owners; and
(iii) Expenses declared common by provisions of this chapter, or by the declaration or the code of regulations.
(e) "Council" means a board of natural individuals of the number stated in the code of regulations who are residents of this state, who need not be unit owners and who shall manage the business, operation and affairs of the property on behalf of the unit owners and in compliance with and subject to the provisions of this chapter.
(f) "Declaration" means the instrument by which the owner of property submits it to the provisions of this chapter as hereinafter provided, and all amendments thereof.
(g) "Declaration plan" means a survey of the property prepared in accordance with section two, article four, of this chapter.
(h) "Majority" or "majority of the unit owners" means the owners of more than fifty percent in the aggregate in interest of the undivided ownership of the common elements as specified in the declaration.
(i) "Person" means a natural individual, corporation, partnership, association, trustee or other legal entity.
(j) "Property" means and includes the land, the building, all improvements thereon, all owned in fee simple, and all easements, rights and appurtenances belonging thereto, which have been or are intended to be submitted to the provisions of this chapter.
(k) "Recorded" means that an instrument has been duly entered of record in the office of the clerk of the county court of the county in which the property is situate.
(l) "Clerk" means the clerk of the county court of the county in which the property is situate.
(m) "Revocation" means an instrument signed by all of the unit owners and by all holders of liens against the units by which the property is removed from the provisions of this chapter.
(n) "Unit" means a part of the property designed or intended for any type of independent use, which has a direct exit to a public street or way, or to a common element or common elements leading to a public street or way, or to an easement or right-of-way leading to a public street or way, and includes the proportionate undivided interest in the common elements which is assigned thereto in the declaration, or any amendments thereof.
(o) "Unit designation" means the number, letter or combination thereof designating a unit in the declaration plan.
(p) "Unit owner" means the person or persons owning a unit in fee simple.
(q) "Mortgage" means either mortgage or deed of trust.
The provisions of this chapter shall be applicable only to real property, the sole owner or all the owners of which submit the same to the provisions hereof by a duly recorded declaration.