35-8A-404
Section 35-8A-404 Offering statement - Condominiums subject to development rights. If the declaration provides that a condominium is subject to any development rights, the offering statement must disclose, in addition to the information required by Section 35-8A-403: (1) The maximum number of units that may be created; (2) A statement of how many or what percentage of the units which may be created will be restricted exclusively to residential use, or a statement that no representations are made regarding use restrictions; (3) If any of the units that may be built within real estate subject to development rights are not to be restricted exclusively to residential use, a statement as to whether there is a maximum percentage of the units which may be used for nonresidential purposes; (4) A statement of any development rights reserved by a declarant and of any conditions relating to or limitations upon the exercise of development rights; (5) A statement of the maximum extent to which the...
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35-8A-403
Section 35-8A-403 Offering statement - General provisions. (a) Except as provided in subsection (b), an offering statement must contain or fully and accurately disclose the following information with regard to the condominium, including a proposed condominium: (1) The name and principal address of the declarant; (2) The name and the address, legal description, or other description of the location of the condominium, and the number and types of units in the condominium; (3) A general description of the condominium, including to the extent possible, number and types of buildings, structures, and amenities the declarant is obligated to build, and declarant's schedule of commencement and completion of construction of buildings, structures, and amenities the declarant is obligated to include in the condominium; (4) Copies of the declaration, as well as any recorded plats, plans, easements, covenants, conditions, restrictions, and reservations affecting the condominium; the certificate or...
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35-8A-205
Section 35-8A-205 Contents of declaration. (a) The declaration for a condominium must contain: (1) The name of the condominium, which must include the word "condominium" or be followed by the words "a condominium," and the name of the association; (2) The name of every county in which any part of the condominium is situated; (3) A legally sufficient description of the real estate included in the condominium; (4) A statement of the maximum number of units which the declarant reserves the right to create; (5) A description of the boundaries of each unit created by the declaration, including the unit's identifying number; (6) A description of any limited common elements, other than those specified in Section 35-8A-202(2) and (4), as provided in Section 35-8A-209(b)(10); (7) A description of any common elements (except real estate subject to development rights) which may be allocated subsequently as limited common elements, other than limited common elements specified in Section...
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35-8A-304
Section 35-8A-304 Transfer of special declarant rights. (a) No special declarant right specified in Section 35-8A-103(24) created or reserved under this chapter may be transferred except by an instrument evidencing the transfer recorded in every county in which any portion of the condominium is located. The instrument is not effective unless executed by the transferor and the transferee in the same formality as a conveyance of real property. (b) Upon transfer of any special declarant right, the liability of a transferor declarant is as follows: (1) A transferor is not relieved of any obligation or liability arising before the transfer and remains liable for warranty obligations imposed upon him or her by this chapter. Lack of privity does not deprive any unit owner of standing to maintain an action to enforce any obligation of the transferor. (2) If a successor to any special declarant right is an affiliate of a declarant specified in Section 35-8A-103(1), the transferor is jointly and...
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35-8A-103
Section 35-8A-103 Definitions. In the declaration and bylaws, unless specifically provided otherwise or the context otherwise requires, and in this chapter, the following terms are defined as set forth below: (1) AFFILIATE OF A DECLARANT. Any person who controls, is controlled by, or is under common control with a declarant. A person "controls" a declarant if the person (i) is a general partner, officer, director, or employer of the declarant, (ii) directly or indirectly or acting in concert with one or more other persons, or through one or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing more than 20 percent of the voting interest in the declarant, (iii) controls in any manner the election of a majority of the directors of the declarant, or (iv) has contributed more than 20 percent of the capital of the declarant. A person "is controlled by" a declarant if the declarant (i) is a general partner, officer, director, or employer of the person,...
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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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41-18-1
Section 41-18-1 Text. Article I. Findings and Purposes. (a) The party states find that the South has a sense of community based on common social, cultural and economic needs and fostered by a regional tradition. There are vast potentialities for mutual improvement of each state in the region by cooperative planning for the development, conservation and efficient utilization of human and natural resources in a geographic area large enough to afford a high degree of flexibility in identifying and taking maximum advantage of opportunities for healthy and beneficial growth. The independence of each state and the special needs of subregions are recognized and are to be safeguarded. Accordingly, the cooperation resulting from this agreement is intended to assist the states in meeting their own problems by enhancing their abilities to recognize and analyze regional opportunities and take account of regional influences in planning and implementing their public policies. (b) The purposes of...
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35-8A-215
Section 35-8A-215 Use for sales purposes. A declarant may maintain sales offices, management offices, and models in units or on common elements in the condominium only if the declaration so provides and specifies the rights of a declarant with regard to the number, size, location, and relocation thereof. Any sales office, management office, or model not designated a unit by the declaration is a common element, and if a declarant ceases to be a unit owner, he or she ceases to have any rights with regard thereto unless it is removed promptly from the condominium in accordance with a right to remove reserved in the declaration. Subject to any limitations in the declaration, a declarant may maintain signs on the common elements advertising the condominium. The provisions of this section are subject to the provisions of other state law, and to local ordinances. (Acts 1990, No. 90-551, p. 858, §2-115; Act 2018-403, §1.)...
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35-8A-210
Section 35-8A-210 Exercise of development rights. (a) To exercise any development right reserved under Section 35-8A-205(a)(8), the declarant shall prepare, execute, and record an amendment to the declaration as specified in Section 35-8A-217 and comply with Section 35-8A-209. The declarant is the unit owner of any units thereby created. The amendment to the declaration must assign an identifying number to each new unit created, and, except in the case of subdivision or conversion of units described in subdivision (2) of subsection (c), reallocate the allocated interests among all units. The amendment must describe any common elements and any limited common elements thereby created and, in the case of limited common elements, designate the unit to which each is allocated to the extent required by Section 35-8A-208. (b) Development rights may be reserved within any real estate added to the condominium if the amendment adding that real estate includes all matters required by Section...
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35-8A-411
Section 35-8A-411 Release of liens. (a) In the case of a sale of a unit where delivery of an offering statement is required pursuant to Section 35-8A-402(c) or a disclosure is made pursuant to Section 35-8A-407, a seller shall record or furnish to the purchaser releases of all liens or an agreement to release any liens that encumber that unit and its common element interest, except liens on real estate that a declarant has the right to withdraw from the condominium, that the purchaser does not expressly agree in a written contract of sale which specifically identifies such lien and its amount to take subject to or assume, or provide a surety bond or substitute collateral for or insurance against the lien in the manner provided for liens on real estate in Section 35-11-233(b). (b) In conveying real estate to the association the declarant shall have that real estate released from: (i) all liens the foreclosure of which would deprive unit owners of any right of access to or easement of...
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