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35-8-18
Section 35-8-18 Blanket mortgage on condominium property. Notwithstanding any other provision
of this chapter, if the declaration or bylaws so permit, the entire condominium property or
some or all of the units included therein may be subject to a single or blanket mortgage constituting
a first lien thereon created by recordable instrument by all of the owners of the property
or units covered thereby; and any unit included under the lien of such mortgage may be sold
or otherwise conveyed or transferred subject thereto. The instrument creating any such mortgage
shall provide a method whereby any unit owner may obtain a release of his unit from the lien
of such mortgage and a satisfaction and discharge in recordable form upon payment to the holder
of the mortgage of a sum equal to the proportionate share attributable to his unit of the
then outstanding balance of unpaid principal and accrued interest and any other charges then
due and unpaid. Such proportionate share attributable to each...
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11-54B-9
Section 11-54B-9 Collection of special assessment; procedures; claim of lien; interest, penalties,
and fees. (a) A self-help business improvement district ordinance 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. The collection
procedures utilized by the district management corporation shall include the mailing of a
notice of the special assessment to the person shown as owner of the property on the records
of the tax assessor in the following manner: (1) After October 1 of each year, the district
management corporation may levy the special assessment for services to be provided during
the following calendar year. (2) The assessment shall be due on December 1 and delinquent
on January 1 following the October levy. (3) Upon delinquency, interest and penalties may
be assessed in the amounts provided in subsection (d). (b) Notwithstanding...
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35-8-17
Section 35-8-17 Liens in favor of association. The association shall have a lien on each unit
for any unpaid assessment duly made by the association for a share of common expenses, limited
common expenses or otherwise, together with interest thereon and, if authorized by the declaration
or bylaws, reasonable attorney's fees. Such lien shall be effective from and after the time
of recording in the public records of the county in which the unit is located of a claim of
lien stating the description of the unit, the name of the record owner, the amount due, and
the date when due. Such claim of lien shall include only sums which are due and payable when
the claim of lien is recorded and shall be signed and verified by an officer or agent of the
association. Upon full payment of all sums secured by the lien, the party making payment shall
be entitled to a recordable satisfaction of lien. All such liens shall be subordinate to any
lien for taxes, the lien of any mortgage of record, and any...
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35-8A-316
Section 35-8A-316 Lien for assessments. (a) The association has a lien on a unit for any assessment
and any other moneys due the association for special assessments or services or charges, such
as water or repairs, levied against that unit or fines imposed against its unit owner from
the time the assessment or fine becomes due. The association's lien may be foreclosed in like
manner as a mortgage on real estate provided the declaration is in conformity with Article
1A of Chapter 10 of this title and subject to the rights under Article 14A of Chapter 5 of
Title 6. The association shall send reasonable advance notice of its proposed action to the
unit owner and all lienholders of record of the unit. Unless the declaration otherwise provides,
fees, charges, late charges, fines, and interest charged pursuant to Section 35-8A-302(a)(10),
(11), and (12) are enforceable as assessments under this section. If an assessment is payable
in installments, the full amount of the assessment is a lien...
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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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27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
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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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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...
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13A-8-1
Section 13A-8-1 Definitions. The following definitions are applicable in this article unless
the context otherwise requires: (1) DECEPTION occurs when a person knowingly: a. Creates or
confirms another's impression which is false and which the defendant does not believe to be
true; or b. Fails to correct a false impression which the defendant previously has created
or confirmed; or c. Fails to correct a false impression when the defendant is under a duty
to do so; or d. Prevents another from acquiring information pertinent to the disposition of
the property involved; or e. Sells or otherwise transfers or encumbers property, failing to
disclose a lien, adverse claim, or other legal impediment to the enjoyment of the property
when the defendant is under a duty to do so, whether that impediment is or is not valid, or
is not a matter of official record; or f. Promises performance which the defendant does not
intend to perform or knows will not be performed. Failure to perform, standing...
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35-8A-317
Section 35-8A-317 Other liens affecting the condominium. (a) Except as provided in subsection
(b), a judgment for money against the association if recorded is not a lien on the common
elements, but is a lien in favor of the judgment lienholder against all of the units in the
condominium at the time the judgment was entered. No other property of a unit owner is subject
to the claims of creditors of the association. (b) If the association has granted a security
interest in the common elements to a creditor of the association pursuant to Section 35-8A-312,
the holder of that security interest shall exercise its right against the common elements
before its judgment lien on any unit may be enforced. (c) Whether perfected before or after
the creation of the condominium, if a lien other than a deed of trust or mortgage, including
a judgment lien or lien attributable to work performed or materials supplied before creation
of the condominium, becomes effective against two or more units, the...
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