Reservation of option not to expand; disclosure

Sec. 15. If a declarant reserves an option in the declaration to not expand the condominium, the declarant shall: (1) make a full disclosure of that option to every prospective buyer in writing before the buyer enters an agreement to purchase a condominium unit; and (2) obtain and retain an instrument acknowledging receipt of that disclosure by the prospective buyer. [Pre-2002 Recodification Citation: 32-1-6-15.5.] As added by P.L.2-2002, SEC.10.