Title 34, Title 34 Title 34

(a) This article applies to all units subject to this chapter except as provided in subsection (b) or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use. (b) Neither a public offering statement nor a …

(a) Except as provided in subsection (b), a declarant, prior to the offering of any interest in a unit to the public, shall prepare a public offering statement conforming to the requirements of §§ 34-36.1-4.03 — 34-36.1-4.06. (b) A declarant may transfer responsibility for prepar…

(a) Except as provided in subsection (b), a public offering statement must contain or fully and accurately disclose: (1) The name and principal address of the declarant and of the condominium; (2) A general description of the condominium, including to the extent possible, the typ…

If the declaration provides that a condominium is subject to any development rights, the public offering statement must disclose, in addition to the information required by § 34-36.1-4.03: (1) The maximum number of units, and the maximum number of units per acre, that may be crea…

If the declaration provides that ownership or occupancy of any units is or may be in time shares, the public offering statement shall disclose, in addition to the information required by § 34-41-4.03: (1) The number and identity of units in which time shares may be created; (2) T…

(a) The public offering statement of a condominium containing any conversion building must contain, in addition to the information required by § 34-36.1-4.03: (1) A statement by the declarant, based on a report prepared by a registered architect or engineer, describing the presen…

If an interest in a condominium is currently registered with the securities and exchange commission of the United States, a declarant satisfies all requirements relating to the preparation of a public offering statement of this chapter if he delivers to the purchaser a copy of th…

(a) A person required to deliver a public offering statement pursuant to § 34-36.1-4.02(c) shall provide a purchaser of a unit with a copy of the public offering statement and all amendments thereto before conveyance of that unit, and not later than the date of any contract of sa…

(a) Except in the case of a sale where delivery of a public offering statement is required, or unless exempt under § 34-36.1-4.01(b), a unit owner shall furnish to a purchaser before execution of any contract for sale of a unit, or otherwise before conveyance, a copy of the decla…

Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to § 34-36.1-4.02(c) shall be placed in escrow and held either in this state or in the state where the unit is located in an account de…

(a) In the case of a sale of a unit where delivery of a public offering statement is required pursuant to § 34-36.1-4.02(c), a seller shall, before conveying a unit, record or furnish to the purchaser releases of all liens affecting that unit and its common element interest which…

(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 any seller to a purchaser of a unit, if relied upon by the purchaser, are created as follows: (1) Any written or printed affirmation of fact or promise which relates to the unit, its use, or rights appurtenant thereto, area improvements to the condo…

(a) A declarant and any person in the business of selling real estate for his or her 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 was at the time of contracting, reasonable wear…

(a) Except as limited by subsection (b) with respect to a purchaser of a unit that may be used for residential use, implied warranties of quality: (1) May be excluded or modified by agreement of the parties; and (2) Are excluded by expression of disclaimer, such as “as is,” “with…

(a) A judicial proceeding for breach of any obligation arising under § 34-36.1-4.13 or § 34-36.1-4.14 must be commenced within six (6) years after the cause of action accrues, but the parties may agree to reduce the period of limitation to not less than two (2) years. With respec…

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 appropriate relief. Punitive damages may …

If any improvement contemplated in a condominium is labeled “NEED NOT BE BUILT” on a plat or plan, or is to be located within a portion of the condominium with respect to which the declarant has reserved a development right, no promotional material may be displayed or delivered t…

(a) The declarant shall complete all improvements labeled “MUST BE BUILT” on plats or plans prepared pursuant to § 34-36.1-2.09. (b) The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with the remainder of the condominium, of an…

In the case of a sale of a unit where delivery of a public offering statement is required, a contract of sale may be executed, but no interest in that unit may be conveyed until the declaration is recorded and the unit is substantially completed, as evidenced by a recorded certif…