The Master Deed of every Michigan condominium is required to assign a “percentage of value” to each condominium unit. However, many co-owners and condominium associations do not understand the significance of the “percentage of value” assigned to each condominium unit. To some extent, confusion is created as the “percentage of value” assigned to each condominium unit may mean different things in different condominiums. Accordingly, this article will discuss the most common areas that “percentage of value” has an impact on Michigan condominium associations, being 1) ownership of the common elements 2) the payment of assessments and 3) voting rights.   Read the entire article……………………………….