Ownership Restrictions

2 CMC § 6708 — under Article XII Condominiums.

2 CMC § 6708

TITLE 2: NATURAL RESOURCES

DIVISION 6: UNIFORM CONDOMINIUM ACT

§ 6708. Ownership Restrictions. The ownership of the descent restricted estate in the declaration shall be restricted to comply with this Chapter and Article XII of the Constitution. There shall be no disposition or other transfer of any such interest during the duration of the condominium except to a qualifying descent restricted interest transferee. Any non-qualifying transfer shall be void. Any unit owner or the association shall have standing to enjoin or contest any transfer of a non-qualifying interest in the descent restricted estate. All heirs, successors and assigns of a descent restricted estate shall take title subject to all rights, obligations and restrictions of the declaration and other applicable condominium instruments. In the event of the death of the owner of such interest without a qualifying heir, the administrator of the estate of such owner shall conduct a sale by public auction of the interest to a qualifying purchaser, and should there be no offers, the court shall appoint a person of Northern Marianas descent as trustee to hold such interest until a qualifying purchaser may be found. Should the estate of the owner have insufficient funds to pay for the administration of the descent restricted interest as specified, the owners’ association may be instructed to pay the reasonable costs thereof. Source: PL 15-49, § 2 (6517), modified.