Q: What is the time period, statute of limitations, to build on Unit property land-Condominium Association.
In July 1993 a Condominium Declaration was granted. The declarant had 6-units. Within 3-months from the time the declaration was granted, declarant sold 3-units (Unit 2, 3, 4). The declarant maintained ownership of 3-units; 2-units (Unit 5 & Unit 1) had buildings (cottage houses) on them and 1-unit (Unit 6) was bare land (2,000 sq ft) without a building. In 1995 1 of the 2-units that had buildings was sold off to declarants son. For the past 18-years this unit still is bare land without a building and no building plans to for building on it. The total property the we 6-unit Condo Association owners own is 1.52 acres. Which consists of the Unit Owners property, limited common elements, common elements and easement properties. The question I have: Is there a time limit ( statute of limitations) that a building (for residential occupation use) must be built on this Unit property. Wisconsin Statute, Chapter 703 pertains to Condominium Associations.
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