HomeMy WebLinkAbout1375 i
(c) Gift. If any apartment owner shall acquire his
title by gift, the co~fnuance of his ownership of his apartment will ~ t
be subject to the approval of the Association.
(d) Devise or Inheritance. If any apartment owner
shall acquire his tit e y ev se or n eritance, the continuance of #
his ownership of his apartment will be subject to the approval of the ~
Association.
(e) Other Transfers. If any apartment owner shall
acquire his title by any manner not considered in the foregoing
subsections, the continuance of his ownership of his apartment will
be obtained in the manner set forth in Paragraph 14.2. '
14.2. A royal b Association. The approval of the j
Association that s requ re or t e transfer of ownership of
apartments will be obtained in the following manner: ~
i
i
(a) Notfce to Association.
1. Sale. An apartment owner intending to make a
bona fide sale of his apartment or of any interest in it will give to e
the Association notice of such intention, together with the name and
address of the intended purchaser and such other information concern-
ing the intended purchaser as the Association may reasonably require.
Such notice, at the apartment owner's option, may include a demand by
the apartment owner that the Association furnish a purchaser of the ~
apartment if the proposed purchaser is not approved; and if such
demand is made, the notice will be accompanied by an executed copy of ~
the- proposed contract to sell.
2. Lease. An apart~aent owner intending to make
a bona fide lease of his apartment or of any interest fn it will give
to the Association notice of such intention, together with the name
and address of the intended lessee, such other information concerning
the intended lessee as the Association may reasonably require and an
executed copy of the proposed lease. ~
3. Gift; devise or inheritance; other transfers
An apartment owner who has obta ned his tit a by gi t, devise or
inheritance, or by any other manner not previously considered, will
give to the Association notice of the acquiring of his title, togeth-
er with such information concerning the apartment owner as the Asso-
~ ciation may reasonably require, and a certified copy of the instru-
ment evidencing the owner's title.
E
` 4. Failure to ive-notice. If the above required
notice to the Association is not g ve n, then at any time after '
receiving knowledge of a transaction or event transferring ownership
or possession of an apartment the Association at its election and
without notice may approve or disapprove the transaction or owner- z
ship. If the Association disapproves the transaction or ownership,
it will proceed as if it had received the required notice on the date ~
of such disapproval.
b Certificate of A royal.
( ) _ PP
1. Sale. If the proposed transaction is a sale,
then within thirty (3 0) days after receipt of such notice and inform-
E ation, the Association must either approve or disapprove the proposed
transaction. If approved, the approval will be stated in a certifi-
cate executed by the President and Secretary of the Association. !
4
2. Lease. If the proposed transaction is a
` lease, then within thirty (30) days after receipt of such notice and
information the Association must either approve or disapprove the
proposed transaction. If approved, the approval will be stated in a
~ certificate executed by the President and Secretary of the Associa-
tion.
-16-
8338 P~1373
f
s-