Michigan SB0272 modifies the definition of undeveloped land in condominium projects and outlines procedures for handling such land.

Michigan SB0272 amends the definition of undeveloped land in condominium projects, specifying that undeveloped land includes land on which condominium units were recorded but have not been built. The bill outlines procedures for handling undeveloped land, including the developer's ability to withdraw such land or convert it to "must be built" within 60 days of notice. If the developer fails to act, the association of co-owners can declare the land as general common elements, ceasing rights to construct on it.

Michigan SB0272 modifies the definition of undeveloped land in condominium projects and outlines procedures for handling such land.

Michigan SB0272 amends the definition of undeveloped land in condominium projects, specifying that undeveloped land includes land on which condominium units were recorded but have not been built. The bill outlines procedures for handling undeveloped land, including the developer's ability to withdraw such land or convert it to "must be built" within 60 days of notice. If the developer fails to act, the association of co-owners can declare the land as general common elements, ceasing rights to construct on it.