Title 35 — Title 35

(a) This article applies to all units subject to this chapter, except as provided in subsection (b) or as modified or waived in writing by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use. (b) Neither an offering statement …

(a) Except as provided in subsection (b), a declarant, prior to the offering of any interest in a unit to the public, shall prepare an offering statement conforming to the requirements of Sections 35-8A-403 through 35-8A-406. (b) A declarant may transfer responsibility for prepar…

(a) Except as provided in subsection (b), an offering statement must contain or fully and accurately disclose the following information with regard to the condominium, including a proposed condominium: (1) The name and principal address of the declarant; (2) The name and the addr…

If the declaration provides that a condominium is subject to any development rights, the offering statement must disclose, in addition to the information required by Section 35-8A-403: (1) The maximum number of units that may be created; (2) A statement of how many or what percen…

If the declaration provides that ownership or occupancy of any units is or may be in time shares, the offering statement shall disclose, in addition to the information required by section 35-8A-403: (1) The number and identity of units in which time shares may be created; (2) The…

The offering statement of a condominium containing any conversion building containing units that may be occupied for residential use must contain, in addition to the information required by Section 35-8A-403: (1) A statement by the declarant, to the best of declarant’s knowledge,…

If an interest in a condominium is currently registered with the Securities and Exchange Commission of the United States or registered pursuant to the Interstate Land Sales Full Disclosure Act, a declarant satisfies all requirements relating to the preparation and delivery of an …

(a) A person required to deliver the required documents or report pursuant to Section 35-8A-402(c) or 35-8A-407 shall provide a purchaser of a unit with a copy of the offering statement and all amendments thereto not later than the date of any contract of sale. Unless a purchaser…

(a) Except in the case of a sale where delivery of an offering statement is required, or unless exempt under Section 35-8A-401(b), a unit owner upon written request by a purchaser of a unit previously disposed of, which written request must be made within 14 days of the date the …

(a) As used in this section, except as otherwise provided, the following terms shall have the following meanings: (1) HARD COSTS. Any and all costs associated with the actual building and construction of the condominium project, including, but not limited to, site preparation, bu…

(a) In the case of a sale of a unit where delivery of an offering statement is required pursuant to Section 35-8A-402(c) or a disclosure is made pursuant to Section 35- 8A-407, a seller shall record or furnish to the purchaser releases of all liens or an agreement to release any …

(a) A declarant of a condominium containing conversion buildings, and any person in the business of selling real estate for his or her own account who intends to offer units in such a condominium shall give each of the residential tenants and any residential subtenant in possessi…

(a) Express warranties made by the declarant, an affiliate of the declarant, or any person in the business of selling real estate for his or her own account, to a purchaser of a unit, if relied upon by the purchaser, are created as follows: (1) Any affirmation of material fact or…

If a declarant or any other person subject to this chapter fails to comply with any provision hereof or any provision of the declaration or bylaws, any person or class of persons adversely affected by the failure to comply has a claim for actual damages or appropriate equitable r…

No promotional material may be displayed or delivered to prospective purchasers which describes or portrays an improvement that the declarant is not obligated to build unless the description or portrayal of the improvement that is not in existence and is displayed in the promotio…

(a) Except for improvements labeled, “NEED NOT BE BUILT” the declarant shall complete all improvements depicted on any site plan or graphic representation including plats or plans prepared pursuant to section 35-8A-209, whether or not that site plan or other graphic representatio…

In the case of a sale of a unit where delivery of an offering statement is required or a disclosure is made pursuant to Section 35-8A-407, a contract of sale may be executed, but no interest in that unit may be conveyed, or voted until the declaration is recorded and the unit is …