Section 448.4-113 – Express warranties of quality.
Effective – 28 Aug 1983 448.4-113. Express warranties of quality. — 1. Express warranties made by any seller to a purchaser of a unit, if relied upon by the purchaser, are created as follows: (1) Any affirmation of fact or promise which relates to the unit, its use, or rights appurtenant thereto, area improvements to […]
Section 448.4-114 – Implied warranties of quality.
Effective – 28 Aug 1983 448.4-114. Implied warranties of quality. — 1. A declarant and any person in the business of selling real estate for his own account warrants that a unit will be in at least as good condition at the earlier of the time of the conveyance or delivery of possession as it […]
Section 448.4-115 – Exclusion or modification of implied warranties of quality.
Effective – 28 Aug 1983 448.4-115. Exclusion or modification of implied warranties of quality. — 1. Except as limited by subsection 2 of this section with respect to a purchaser of a unit which may be used for residential use, implied warranties of quality: (1) May be excluded or modified by agreement of the parties; […]
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 448.3-116 – 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. […]