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35-8A-305
Section 35-8A-305 Termination of contracts and leases of declarant. If entered into before
the board elected by the unit owners pursuant to Section 35-8A-303(f) takes office: (i) any
management contract, employment contract, or lease of recreational or parking areas or facilities;
(ii) any other contract or lease between the association and a declarant or an affiliate of
a declarant; or (iii) any contract or lease that is not bona fide or was unconscionable to
the unit owners at the time entered into under the circumstances then prevailing, may be terminated
without penalty by the association during the current term of the contract or lease after
the board elected by the unit owners pursuant to Section 35-8A-303(f) takes office upon not
less than 90 days' notice to the other party. This section does not apply to any lease the
termination of which would terminate the condominium or reduce its size, unless the real estate
subject to that lease was included in the condominium for the...
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35-8A-407
Section 35-8A-407 Offering statement - Condominium securities. If an interest in a condominium
is currently registered with the Securities and Exchange Commission of the United States or
registered pursuant to the Interstate Land Sales Full Disclosure Act, a declarant satisfies
all requirements relating to the preparation and delivery of an offering statement of this
chapter if he or she delivers to the purchaser a copy of the offering statement filed with
the Securities and Exchange Commission or a copy of the property report approved in accordance
with the Interstate Land Sales Full Disclosure Act as a part of the registration process.
(Acts 1990, No. 90-551, p. 858, §4-107; Act 2018-403, §1.)...
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35-8A-206
Section 35-8A-206 Leasehold condominiums. (a) Any lease the expiration or termination of which
may terminate the condominium or reduce its size shall be recorded. Every lessor of those
leases must sign the declaration, and the declaration must state: (1) The recording data for
the lease, the date of the lease, and the date of its recordation; (2) The date on which the
lease is scheduled to expire; (3) A legally sufficient description of the real estate subject
to the lease; (4) Any right of the unit owners to redeem the reversion and the manner whereby
those rights may be exercised, or a statement that they do not have those rights; (5) Any
right of the unit owners to remove any improvements within a reasonable time after the expiration
or termination of the lease, or a statement that they do not have those rights; and (6) Any
rights of the unit owners to renew the lease and the conditions of any renewal, or a statement
that they do not have those rights. (b) After the declaration for...
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13A-10-100
Section 13A-10-100 Definitions. (a) The definitions in Sections 13A-10-1 and 13A-10-60 are
applicable in this article unless the context otherwise requires. (b) The following definitions
are also applicable in this article: (1) SWEARS FALSELY and FALSE SWEARING. The making of
a false statement under oath required or authorized by law, or the swearing or affirming the
truth of such statement previously made, which the declarant does not believe to be true.
A false swearing in a subscribed written instrument shall not be deemed complete until the
instrument is delivered by its subscriber, or by someone acting in his behalf, to another
person with intent that it be uttered or published as true. (2) MATERIAL. A statement is "material,"
regardless of the admissibility of the statement under the rules of evidence, if it could
have affected the course or outcome of the official proceeding. It is no defense that the
declarant mistakenly believed the falsification to be immaterial. Whether a...
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35-8A-207
Section 35-8A-207 Allocation of common element interests, votes, and common expense liabilities.
(a) The declaration must allocate to each unit in a condominium a fraction or percentage of
undivided interests in the common elements and in the common expenses of the association specified
in section 35-8A-315(a), and a portion of the votes in the association, to each unit and state
the formulas used to establish allocations of interest. Those allocations may not discriminate
in favor of units owned by the declarant or an affiliate of the declarant. (b) If units may
be added to or withdrawn from the condominium, the declaration must state the formulas to
be used to reallocate the allocated interests among all units included in the condominium
after the addition or withdrawal. (c) The declaration may provide: (i) that different allocations
of votes shall be made to the units on particular matters specified in the declaration; (ii)
for cumulative voting only for the purpose of electing...
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35-8A-303
Section 35-8A-303 Board members and officers. (a) Except as provided in the declaration, the
bylaws, the articles of incorporation in subsection (b), or other provisions of this chapter,
the board may act in all instances on behalf of the association. In the performance of their
duties, the officers and members of the board are required to exercise: (i) if appointed by
the declarant; the care required of fiduciaries of the unit owners other than the declarant
and (ii) if elected by the unit owners other than declarant, ordinary and reasonable care.
(b) The board may not act on behalf of the association to amend the declaration as specified
in Section 35-8A-217, to terminate the condominium described in Section 35-8A-218, or to elect
members of the board or to determine the qualifications, powers and duties, or terms of office
of board members as provided in Section 35-8A-303(f), but the board may fill vacancies in
its membership for the unexpired portion of any term. (c) Within 30 days...
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35-8A-412
Section 35-8A-412 Conversion buildings. (a) A declarant of a condominium containing conversion
buildings, and any person in the business of selling real estate for his or her own account
who intends to offer units in such a condominium shall give each of the residential tenants
and any residential subtenant in possession of a portion of a conversion building notice of
the conversion no later than 60 days before the tenants and any subtenant in possession are
required to vacate. The notice must set forth generally the rights of tenants and subtenants
under this section and shall be hand-delivered to the unit or mailed by prepaid United States
mail to the tenant and subtenant at the address of the unit or any other mailing address provided
by a tenant. No tenant or subtenant may be required to vacate upon less than 60 days' notice,
except by reason of nonpayment of rent, waste, or conduct that disturbs other tenants' peaceful
enjoyment of the premises, and the terms of the tenancy may...
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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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35-8A-417
Section 35-8A-417 Substantial completion of units. In the case of a sale of a unit where delivery
of an offering statement is required or a disclosure is made pursuant to Section 35-8A-407,
a contract of sale may be executed, but no interest in that unit may be conveyed, or voted
until the declaration is recorded and the unit is substantially completed, as evidenced by
a recorded certificate of substantial completion executed by an independent registered architect,
or independent registered engineer, or by issuance of a certificate of occupancy authorized
by law. (Acts 1990, No. 90-551, p. 858, §4-117; Act 2018-403, §1.)...
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35-8A-401
Section 35-8A-401 Applicability; waiver. (a) This article applies to all units subject to this
chapter, except as provided in subsection (b) or as modified or waived in writing by agreement
of purchasers of units in a condominium in which all units are restricted to nonresidential
use. (b) Neither an offering statement nor a resale certificate need be prepared or delivered
in the case of: (1) A gratuitous disposition of a unit; (2) A transfer pursuant to court order;
(3) A disposition by a government or governmental agency; (4) A transfer by foreclosure or
disposition by deed in lieu of foreclosure; (5) A disposition to a person in the business
of selling real estate who intends to offer those units to purchasers where the responsibility
for preparing and delivering the offering statement has been transferred to the person pursuant
to subsection (b) of Section 35-8A-402; (6) A disposition that may be canceled at any time
and for any reason by the purchaser without penalty; or (7) A...
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