35-8A-409
Section 35-8A-409 Resales of units. (a) Except in the case of a sale where delivery of an offering
statement is required, or unless exempt under Section 35-8A-401(b), a unit owner upon written
request by a purchaser of a unit previously disposed of, which written request must be made
within 14 days of the date the purchaser signs the contract with a purchaser, shall furnish
to a purchaser before the conveyance and in any event within 15 days of receipt of the written
request, a copy of the declaration, the bylaws, the rules, and the regulations of the association,
and a certificate containing: (1) A statement setting forth the amount of the periodic common
expense assessment; (2) A statement setting forth the amount of any unpaid common expense
or special assessments against the unit either past due or then due owing; (3) A statement
of any other assessments or fees assessed against the unit or the unit owner either past due
or then due and owing; (4) The most recent regularly prepared...
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35-8-20
Section 35-8-20 Termination of condominium. (a) The condominium property may be removed from
the provisions of this chapter provided that all unit owners agree and all holders of record
of liens affecting any of the units consent or agree, in either case by instruments duly recorded,
that their liens be transferred to the undivided share of the unit owner in the property as
hereinafter provided. (b) A circuit court may grant the petition of any unit owner for a removal
of the condominium property from the provisions of this chapter and a partition under the
following circumstances: (1) In the event of total destruction of all improvements of the
condominium property and no agreement is reached to rebuild such improvements within a reasonable
time, or such rebuilding has not been completed within a reasonable time. (2) In the event
of substantial destruction, deterioration, or obsolescence of the condominium property and
no agreement is reached to repair, reconstruct, or rebuild such...
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35-8A-312
Section 35-8A-312 Conveyance or encumbrance of common elements. (a) In a condominium portions
of the common elements may be conveyed or subjected to a security interest by the association
if persons entitled to cast at least 80 percent of the votes in the association, including
80 percent of the votes allocated to units not owned by a declarant, or any larger percentage
the declaration specifies, agree to that action; but all the owners of units to which any
limited common element is allocated must agree in order to convey that limited common element
or subject it to a security interest. The declaration may specify a smaller percentage only
if all of the units are restricted exclusively to nonresidential uses. Proceeds of the sale
or loan are an asset of the association. (b) An agreement to convey common elements in a condominium
or subject them to a security interest must be evidenced by the execution of an agreement,
or ratifications thereof, in the same manner as a deed, by the...
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7-2A-103
Section 7-2A-103 Definitions and index of definitions. (1) In this article unless the context
otherwise requires: (a) "Buyer in ordinary course of business" means a person who
in good faith and without knowledge that the sale to him or her is in violation of the ownership
rights or security interest or leasehold interest of a third party in the goods, buys in ordinary
course from a person in the business of selling goods of that kind but does not include a
pawnbroker. "Buying" may be for cash or by exchange of other property or on secured
or unsecured credit and includes receiving goods or documents of title under a pre-existing
contract for sale but does not include a transfer in bulk or as security for or in total or
partial satisfaction of a money debt. (b) "Cancellation" occurs when either party
puts an end to the lease contract for default by the other party. (c) "Commercial unit"
means such a unit of goods as by commercial usage is a single whole for purposes of lease
and...
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35-8A-105
Section 35-8A-105 Separate titles and taxation. (a) If there is any unit owner other than a
declarant, each unit that has been created, together with its interest in the common elements,
constitutes for all purposes a separate parcel of real estate. (b) If there is any unit owner
other than a declarant, each unit must be separately taxed and assessed, and no separate tax
or assessment may be rendered against any common elements for which a declarant has reserved
no development rights. (c) Any portion of the common elements for which the declarant has
reserved any development right may be separately taxed and assessed against the declarant,
and, if separately taxed and assessed, the declarant alone would be liable for payment of
those taxes. (d) If there is no unit owner other than a declarant, the real estate comprising
the condominium may be taxed and assessed in any manner provided by law. (e) All laws authorizing
exemptions or deductions from taxation shall be applicable to each...
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35-8A-209
Section 35-8A-209 Plats and plans. (a) A clear and legible plat of the condominium property
and plans, if required under subsection (d), shall be recorded in the office of the judge
of probate in every county in which any portion of the condominium is located and shall contain
a certification that the plat and plans, if any contain all information required by this section.
If the plat contains all of the information described in subsections (b), (c), (d), and (g),
plans are not required. The recorded plan and plans are part of the declaration. (b) Each
plat must show: (1) The name of the condominium and a survey of the real property included
in the condominium; (2) The location and dimensions of all existing improvements located on
the condominium property; (3) The location and dimensions of any real estate subject to development
rights reserved over any part of the condominium property, labeled to identify the rights
applicable to each identified portion, but the plat need not...
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35-8A-217
Section 35-8A-217 Amendment of declaration. (a) Except in cases of amendments that may be executed
by a declarant under section 35-8A-209(f) or 35-8A-210; the association under section 35-8A-107,
35-8A-206(d), 35-8A-208(c), 35-8A-212(a), or 35-8A-213; or by certain unit owners under section
35-8A-208(b), 35-8A-212(a), 35-8A-213(b), or 35-8A-218(b), and except as limited by subsection
(d), the declaration, including the plats and plans, may be amended only by the affirmative
vote or agreement of unit owners of units to which at least two-thirds of the votes in the
association are allocated, or any larger majority the declaration specifies. The declaration
may specify a smaller number only if all of the units are restricted exclusively to non-residential
use. (b) No action to challenge the validity of an amendment adopted by the association pursuant
to this section may be brought more than one year after the amendment is recorded. (c) Every
amendment to the declaration must be recorded...
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35-8-13
Section 35-8-13 Common expenses and limited common expenses. The common expenses and limited
common expenses shall be charged to unit owners in such amount that the charge corresponds
approximately to their respective undivided interests in the common elements and limited common
elements as set forth or determined by the declaration and amendments thereto. The amount
of such expenses charged to each unit shall be a lien against such unit subject to the provisions
of Section 35-8-17. A unit owner shall, by acceptance of title, be conclusively presumed to
have agreed to pay his proportionate share of such expenses accruing while he is the owner
of a unit. However, the liability of a unit owner for such expenses shall be limited to amounts
duly assessed in accordance with this chapter, the declaration, and bylaws. No unit owner
may exempt himself from liability for his share of such expenses arising out of common elements
and limited common elements in which he has an interest by waiver...
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9-17-33
Section 9-17-33 Disposition of proceeds from sale of oil or gas production. (a) As used in
this section, the following terms shall have the following meanings: (1) CHECK STUB. The financial
record attached to a check, included with a check, or mailed separately at or near the time
the check is mailed. (2) DIVISION ORDER. A contract between the interest owner and the purchaser,
operator, or the owner of the right to drill and to produce, directing the distribution of
the value from the sale of the oil, gas, and other liquid hydrocarbons in the proportions
set out in the division order, which division order is prepared by the purchaser, operator,
and/or the owner of the right to drill and to produce on the basis of the ownership shown
in a title opinion prepared after examination of abstracts or based on other generally acceptable
legal ownership documentation and which is executed by the interest owners or others having
an interest in the production. (3) INTEREST OWNER. A person owning...
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35-8A-310
Section 35-8A-310 Voting; proxies. (a) If only one of the multiple owners of a unit is present
at a meeting of the association, he or she is entitled to cast all the votes allocated to
that unit. If more than one of the multiple owners are present, the votes allocated to that
unit may be cast only in accordance with the agreement of a majority in interest of the multiple
owners, unless either the declaration or bylaws expressly provides otherwise. There is majority
agreement if any one of the multiple owners casts the votes allocated to that unit without
protest being made promptly to the person presiding over the meeting by any of the other owners
of the unit. (b) Votes allocated to a unit may be cast pursuant to a proxy duly executed by
the unit owner except as provided in Section 35-8A-303(g). If a unit is owned by more than
one person, each owner of the unit may vote or register protest to the casting of votes by
the other owners of the unit through a duly executed proxy. A unit...
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