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11-81-245
Section 11-81-245 Consent requirements; disclosure statement. (a)(1) Before entering into a
written contract with a local government, the real property owner shall provide, or the local
government shall obtain, a verified recordable copy of written consent and subordination agreement
signed by the holder of each existing mortgage or other lien on the relevant real property
stating that the mortgagee or other lienholder consents to the imposition of the assessment
and that the priority of the mortgage or other lien is subordinated to the assessment lien
in a form and substance acceptable to each mortgagee and other lienholder. The consent and
subordination agreement must be in a form that may be recorded in the appropriate recording
office in the county or counties where the real property is located, and the consent and subordination
agreement with the owner's assessment contract shall be recorded in that office. (2) This
subsection does not limit in any way the rights or authority of...
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27-22-60
Section 27-22-60 Definitions. As used in this article, the following terms shall have the following
meanings: (1) LENDER. A person who holds a mortgage, lien, deed of trust, or other security
interest in property. The term includes an assignee, receiver, or other transferee of the
interest. (2) RESIDENTIAL REAL PROPERTY. Any of the following: a. A single-family house. b.
A duplex, triplex, or quadraplex. c. A unit in a multi-unit residential structure in which
title to an individual unit is transferred to the owner of the unit under a condominium or
cooperative system. (Act 2019-460, §1.)...
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22-27-60
Section 22-27-60 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this article,
the following terms shall have the following meanings: (1) LENDER. A person who holds a mortgage,
lien, deed of trust, or other security interest in property. The term includes an assignee,
receiver, or other transferee of the interest. (2) RESIDENTIAL REAL PROPERTY. Any of the following:
a. A single-family house. b. A duplex, triplex, or quadraplex. c. A unit in a multi-unit residential
structure in which title to an individual unit is transferred to the owner of the unit under
a condominium or cooperative system. (Act 2019-460, §1.)...
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35-8-6
Section 35-8-6 Common and limited common elements. (a) The undivided interest in the common
elements and limited common elements or the method for determining such interests shall be
set forth in the declaration. (b) Any conveyance, lease, devise, or other disposition or mortgage
or encumbrance of any unit shall extend to and include such undivided interest in the common
and limited common elements, whether or not expressly referred to in the instrument effecting
the same. (c) The common elements and limited common elements shall remain undivided from
the condominium property and shall not be the object of an action for partition or division
unless the condominium property is removed from the provisions of this chapter as provided
in Section 35-8-20. Nothing in this chapter shall be construed as a limitation on partition
of individual interests in a unit or units by co-owners of such unit or units. (d) The undivided
interest of each unit owner in the common elements and limited common...
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35-8-7
Section 35-8-7 Establishment of condominium property; contents of declaration. Condominium
property shall be established by recording a properly executed declaration as set forth in
Section 35-8-11. A declaration shall be executed with the formalities of a deed to real property.
It shall be executed by all persons having title of record or lien interests of record to
such real property, not including mineral interests, royalty interests, rights-of-way, and
easements. In addition to such other provisions as may be desired, not inconsistent with this
chapter, the declaration shall contain: (1) A statement submitting the property described
to the provisions of this chapter; (2) The name by which the condominium is to be identified,
which name shall include the word "condominium" or be followed by the words "a
condominium"; (3) A legal description of the land included; (4) Plans or other graphic
or narrative description of the property in sufficient detail to identify common elements,...
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35-8-8
Section 35-8-8 Unit deeds and other instruments. (a) Prior to the conveyance of any unit, plans
or other graphic description, certified by a licensed or registered engineer or architect,
in sufficient detail to identify the common elements, limited common elements, and private
elements comprising such unit as built, shall be recorded as a part of the declaration or
as an amendment thereto. Such unit shall be identified by assigning a distinctive letter,
number, or other means of identification by which it may be separately identified from the
other units. Where the plans or other graphic description of two or more elements of any unit
or units are identical, a single plan or other graphic description of such elements shall
be sufficient to satisfy the requirements of this chapter. (b) Prior to the conveyance of
any unit, a copy of the bylaws and any amendments thereto shall be recorded in the same public
records as the declaration and amendments thereto. (c) A deed, mortgage, lease, or...
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35-8-9
Section 35-8-9 Duties and responsibilities of association for administration and management
of property. The association provided for by the declaration shall be responsible for the
administration and management of the condominium property in accordance with this chapter,
the declaration, and the bylaws. The association may be incorporated or unincorporated. All
unit owners will be stockholders or members. Unless otherwise provided in the declaration,
the association, acting through its officers or governing board, shall have the powers enumerated
below: (1) The association may maintain, repair, replace, clean, and sanitize the common and
limited common elements. (2) The association may assess and collect funds and may pay for
common expenses and limited common expenses out of such funds as are appropriate. (3) In addition
to the enforcement of the covenants and restrictions concerning use, occupancy, and transfer
of units which are included in the declaration pursuant to section...
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24-1-33
Section 24-1-33 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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24-1-72
Section 24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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11-54B-48
Section 11-54B-48 Collection of special assessment. (a) The self-help business improvement
district ordinance adopted by the municipality pursuant to Section 11-54B-46 shall provide
that the special assessment levied on the owners of the real property located within the geographical
area of the district shall be collected by the district management corporation, by the offices
of the municipal revenue department, or by the offices of the revenue commissioner, who may
be compensated for the service. Except in the case of an assessment against a designated class
of business, the ordinance shall also provide that the amount of any outstanding special assessment
levied on a parcel of real property, together with any accrued interest and penalties, shall
constitute a lien on the property. The lien shall take precedence over all other liens, whether
created prior or subsequent to the date of the special assessment, except a lien for any of
the following: (1) State, county, or municipal taxes....
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