Section 448.4-116 – Statute of limitations for warranties.
Effective – 28 Aug 1983 448.4-116. Statute of limitations for warranties. — 1. A judicial proceeding for breach of any obligation arising under section 448.4-113 or 448.4-114 shall be commenced within six years after the cause of action accrues, but the parties may agree to reduce the period of limitation to not less than two […]
Section 448.4-107 – Original sale certificate, condominium securities.
Effective – 28 Aug 1983 448.4-107. Original sale certificate, condominium securities. — If an interest in a condominium is currently registered with the Securities and Exchange Commission of the United States, a declarant satisfies all requirements relating to the preparation of an original sale certificate of sections 448.1-101 to 448.4-120 if he delivers to the […]
Section 448.4-108 – Purchaser’s right to cancel.
Effective – 28 Aug 1983 448.4-108. Purchaser’s right to cancel. — A person required to deliver an original sale certificate pursuant to subsection 3 of section 448.4-102 shall provide a purchaser of a unit with a copy of the original sale certificate and all amendments thereto before conveyance of that unit and not later than […]
Section 448.4-109 – Resales of units.
Effective – 28 Aug 1983 448.4-109. Resales of units. — 1. Except in the case of a sale where delivery of an original sale certificate is required, or unless exempt under subsection 2 of section 448.4-101, a unit owner shall furnish to a purchaser before execution of any contract for sale of a unit, or […]
Section 448.3-116 – Lien for assessments.
Effective – 28 Aug 2014 448.3-116. Lien for assessments. — 1. The association has a lien on a unit for any assessment 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 […]
Section 448.3-117 – Other liens affecting the condominium.
Effective – 28 Aug 1983 448.3-117. Other liens affecting the condominium. — 1. 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. […]
Section 448.3-118 – Association records.
Effective – 28 Aug 1983 448.3-118. Association records. — The association shall keep financial records sufficiently detailed to enable the association to comply with section 448.4-107. All financial and other records shall be made reasonably available for examination by any unit owner and his authorized agents. ——– (L. 1983 H.B. 177)
Section 448.3-119 – Association as trustee.
Effective – 28 Aug 1983 448.3-119. Association as trustee. — With respect to a third person dealing with the association in the association’s capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association […]
Section 448.4-101 – Applicability — waiver.
Effective – 28 Aug 1983 448.4-101. Applicability — waiver. — 1. Sections 448.4-101 to 448.4-120 apply to all units subject to sections 448.1-101 to 448.4-120, except as provided in subsection 2 of this section or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to […]
Section 448.4-102 – Liability for public offering statement requirements.
Effective – 28 Aug 1983 448.4-102. Liability for public offering statement requirements. — 1. Except as provided in subsection 2 of this section, a declarant shall, prior to the offering of any interest in a unit to the public, prepare an original sale certificate conforming to the requirements of sections 448.4-103, 448.4-104, 448.4-105, and 448.4-106. […]