HomeMy WebLinkAbout0495 18.2 Partial Release of Lien. In the event a lien
against two or more con ominium parce s ecomes effective, each
owner thereof may relieve his condominium parcel of the lien by
paying the proportionate amount attributable to his condominium
parcel. Upon such payment, it shall be the duty of the lienor to
release the lien of record for such condominium parcel.
19. PROVISIONS GOVERNING THE ALIENATION AND MORTGAGE OF
UNITS. In order to maintain a community o congenia residents
who are financially responsible and to protect the value of the
units, the transfer of units by an owner other than Developer
shall be subject to the following provisions so long as the
Condominium exists and the improvements, in useful condition,
exist upon the Land, which provisions each unit owner covenants to
observe:
19.1 Transfers Subject to Approval.
(a) Sale or Lease. No unit owner may dispose of a unit
or any interest in a unit by sale or lease without approval
of the Association, except to another unit owner.
(b) Gift, Devise or Inheritance. If a unit owner shall
acquire his title by gift, devise or inheritance, the
continuance of his ownership of his unit shall be subject to
the approval of the Association, unless he is already a unit
owner approved by Association or Developer.
19.2 Approval by Association. The approval of the
Association is required for the transfer of ownership of unit
falling within Paragraph 19.1 and shall be obtained in the
following manner:
(a) Notice to Association.
(1) Sale. A unit owner intending to make a bona
fide sale of his unit or any interest in it shall give
to the Association notice of such intention, together -
with the name and address of the proposed purchaser, the
purchase price and terms, and such other information
'I concerning the proposed purchaser as the Association may
reasonably require and an executed copy of the proposed
contract to sell. Such notice, at the unit owner's
option, may include a demand by the unit owner that the
Association furnish a purchaser of the unit if the
~ proposed purchaser is not approved, provided, the
proposed purchaser qualifies as a unit owner in
accordance with this Declaration and the Rules and
~ Regulations promulgated by the Association.
(2) Lease. Any unit owner-intending to make a
bona fide lease of his unit or any in~rest in it shall
give to the Association notice of such intent-ion,
together with the name and address of the proposed
lessee, and such other information concerning the
proposed lessee as the Association may reasonably -
require, and an executed copy of the proposed lease,
which shall be for a term of not less than three (3)
months.
(3) Gift, Devise, or Inheritance; Other Transfers.
Any unit owner who has obtained his title by gift,
devise or inheritance, or by any other manner not
previously considered, shall give to the Association
notice of the acquiring of his title, together with such
information concerning the unit owner as the Association
may reasonably require, and a certified copy of the
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