Can Limited Common Elements (LCEs), such as parking spaces or storage spaces, be sold to or exchanged with another owner?
If the LCE is assigned to a particular unit or lot on a map or plat recorded separately from the CC&Rs, the sale or exchange would require an amendment of the map or plat as described in the previous answer. If the LCE 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 assigned on the map or plat, the sale or exchange will require an amendment to the CC&Rs and/or a new deed. In these cases, the owners directly involved with the sale or exchange will need the approval and cooperation of both the association and of their mortgage lenders. The CC&Rs may also require approval and cooperation of some or all the other owners and their mortgage lenders.