(a) Unless the declaration provides otherwise, real estate owned by the association may be added to the common interest community, as common elements only, subject to the requirements of this section. Subject to any additional requirements contained in the declaration, the addition of the real estate shall be approved by:
- (1) unit owners entitled to cast at least 67 percent of the votes in the association;
- (2) declarant until the earlier of (i) five years after the recording of the declaration, or (ii) the time at which declarant no longer owns an unsold unit; and
- (3) in the case of a cooperative, all holders of mortgages or contracts for deed on the entire real estate constituting the cooperative.