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(a) If (1) apartment owners owning not less than eighty percent (80%) in number of apartments in the aggregate, and owning apartments to which are appurtenant not less than eighty percent (80%) of the common interests, execute and record an instrument to the effect that the desire to remove the property from this Chapter, and the holders of all liens affecting any of the apartments of the apartment owners executing such instrument consent thereto by instruments duly recorded, or (2) the common elements suffer substantial damage or destruction and such damage or destruction has not been rebuilt, repaired, or restored within a reasonable time after the occurrence thereof, or the apartment owners have earlier determined as provided in the declaration that such damage or destruction shall not be rebuilt, repaired, or restored, then, and in either event, the property shall be subject to an action for partition by any apartment owner or lienor as if owned in common, in which event the sale of the property shall be ordered by the court and the net proceeds of sale, together with the net proceeds of

COL070307
21 Guam Code Ann. REAL PROPERTY
CH. 45 HORIZONTAL PROPERTY ACT

the insurance of the property, if any, shall be considered as one fund and shall be divided among all the apartment owners in proportion to their respective common interests, provided, that no payment shall be made to an apartment owner until there has first been paid off out of his share of such net proceeds all liens on his apartment. Upon such sale, the property ceases to be the subject of a horizontal property regime or subject to this Chapter.
(b) All of the apartment owners may remove a property, or a part of a property, from this Chapter by an instrument to that effect, duly recorded, provided that the holders of all liens affecting any of the apartments consent thereto, by instruments duly recorded. Upon such removal from this Chapter, the property, or the part of the property designated in the instrument, ceases to be the subject of a horizontal property regime or subject to this Chapter, and is deemed to be owned in common by the apartment owners in proportion to their respective common interests.
SOURCE: CC ‘1286.