KRS 381.9163: Merger or consolidation of condominiums.

(1) Any two (2) or more condominiums by agreement of the unit owners as provided in

subsection (2) of this section, may be merged or consolidated into a single

condominium. In the event of a merger or consolidation, unless the agreement

otherwise provides, the resultant condominium is, for all purposes, the legal

successor of all of the pre -existing condominiums and the operations and activities

of all associations of the pre -existing condominiums shall be merged or

consolidated into a single association which shall hold all powers, rights,

obligations, assets, and liabilities of all pre-existing associations.

(2) In addition to any other requirements of the declaration, the merger or consolidation

of two (2) or more condominiums pursuant to subsection (1) of th is section shall be

evidenced by a recorded agreement duly executed by the president of the association

of each of the pre -existing condominiums following approval by owners of units to

which are allocated the percentage of votes in each condominium requir ed to

terminate that condominium. Any such agreement shall be recorded in every county

in which a portion of the condominium is located and is not effective until recorded.

(3) Every merger or consolidation agreement shall provide for the reallocation of t he

allocated interests in the new association among the units of the resultant

condominium either:

(a) By stating the reallocations or the formulas upon which they are based; or

(b) By stating the percentage of overall allocated interests of the new

condominium which are allocated to all of the units comprising each of the

pre-existing condominiums, and providing that the portion of the percentages

allocated to each unit formerly comprising a part of the pre -existing

condominium shall be equal to the percen tages of allocated interests allocated

to that unit by the declaration of the pre-existing condominium.