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Q.Can two homeowners sell or exchange a parking space or storage unit?

A.Generally No.

Parking spaces and storage units are typically common areas to which individual units have been granted exclusive use.

If the parking space, or storage unit, is assigned to a particular unit or lot on a map or plan recorded separately from the CC&Rs, the sale or exchange requires a licensed surveyor to prepare an amendment to the recorded map or plan and the written agreement of each and every homeowner and lender with an interest in the condominium complex and/or planned development.

However, if the parking space or storage unit is assigned to a particular unit or lot only in the CC&Rs and/or the initial deed conveying the unit or lot, and is not designated and assigned on the recorded map or plan, the sale or exchange only requires an amendment to the CC&Rs and/or a new deed. In these cases, the homeowners directly involved with the proposed sale or exchange still need the approval and cooperation of their mortgage lenders, and if required by the CC&Rs, the approval and cooperation of some, if not all, of the homeowners and their mortgage lenders.

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