{"data":{"id":"us-ky/krs-381.9143","jurisdiction":"us-ky","citation":"KRS 381.9143","heading":"Exercise of development rights.","body":"(1) To exercise any development right reserved under KRS 381.9133(1)(h), the\ndeclarant shall prepare, execute, and record an amendment to the declaration and\ncomply with KRS 381.9141. The declarant is the unit owner of any units thereby\ncreated. The amendment to the declaration shall assign an identifying number to\neach new unit created, and, except in the case of subdivision or conversion of units\ndescribed in subsection (3) of this section, reallocate the allocated interests among\nall units. The amendment sha ll describe any common elements and any limited\ncommon elements thereby created and, in the case of limited common elements,\ndesignate the unit to which each is allocated to the extent required by KRS\n381.9139.\n(2) Development rights may be reserved within  any real estate added to the\ncondominium if the amendment adding that real estate includes all matters required\nby KRS 381.9133 or 381.9135, as the case may be, and the plats and plans include\nall matters required by KRS 381.9141. This provision does not extend the time limit\non the exercise of development rights imposed by the declaration under KRS\n381.9133(1)(h).\n(3) If a declarant exercises a development right to subdivide or convert a unit\npreviously created into additional units, common elements, or b oth, the declaration\nshall be amended as follows:\n(a) If the declarant converts the unit entirely to common elements, the amendment\nto the declaration shall reallocate all the allocated interests of that unit among\nthe other units as if that unit had been taken by eminent domain; or\n(b) If the declarant subdivides the unit into two (2) or more units, whether or not\nany part of the unit is converted into common elements, the amendment to the\ndeclaration shall reallocate all the allocated interests of the uni t among the\nunits created by the subdivision in any reasonable manner prescribed by the\ndeclarant.\n(4) If the declaration provides, pursuant to KRS 381.9133(1)(h), that all or a portion of\nthe real estate is subject to the development right of withdrawal, then the following\nshall apply:\n(a) If all the real estate is subject to withdrawal, and the declaration does not\ndescribe separate portions of real estate subject to that right, none of the real\nestate may be withdrawn after a unit has been conveyed to a purchaser without\nthe written consent of all unit owners owning units within the real estate; and\n(b) If a portion or portions are subject to withdrawal, no portion may be\nwithdrawn after a unit in that portion has been conveyed to a purchaser\nwithout the written consent of all unit owners owning units within that\nportion.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=36838","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:11Z","sha256":"34d8658bca014a93c11a3e8def838e01ece2d57d8d3d9fc9c87db551381dbe81","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.9141","next":"us-ky/krs-381.9145"},"notice":"GroundRules: Original legal text. Not legal advice."}