|
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-404.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-403.htm - 6K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-205.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-304.htm - 6K - Match Info - Similar pages
35-8A-103
interest in, over, or under land, including structures, fixtures, and other improvements and
interests which by custom, usage, or law pass with a conveyance of land though not described
in the contract of sale or instrument of conveyance. "Real estate" includes parcels
with or without upper or lower boundaries, and spaces that may be filled with air or water.
(22) RESIDENTIAL PURPOSES. Use for dwelling or recreational purposes, or both. (23) SECURITY
INTEREST. An interest in real estate or personal property created by contract or conveyance,
which secures payment or performance of an obligation. The term includes a lien created by
a mortgage, vendor's lien, deed of trust, contract for deed, land sales contract, lease intended
as security, assignment of lease, rents intended as security, or any similar security device,
pledge of an ownership interest in an association, and any other consensual lien or title
retention contract intended as security for an obligation. (24) SPECIAL...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-103.htm - 8K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-209.htm - 5K - Match Info - Similar pages
41-18-1
or grant accepted by the board pursuant to this paragraph or services borrowed pursuant to
paragraph (g) of this article shall be reported in the annual report of the board. Such report
shall include the nature, amount and conditions if any, of the donation, grant or services
borrowed and the identity of the donor or lender. (i) The board may establish and maintain
such facilities as may be necessary for the transacting of its business. The board may acquire,
hold and convey real and personal property and any interest therein. (j) The board
shall adopt bylaws for the conduct of its business and shall have the power to amend and rescind
these bylaws. The board shall publish its bylaws in convenient form and shall file a copy
thereof and a copy of any amendment thereto with the appropriate agency or officer in each
of the party states. (k) The board annually shall make to the governor and legislature of
each party state a report covering the activities of the board for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-18-1.htm - 24K - Match Info - Similar pages
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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-215.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-210.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-411.htm - 1K - Match Info - Similar pages
|