Sec. 47-87. Liability for mortgages, liens and assessments on conveyance of unit.
Sec. 47-87. Liability for mortgages, liens and assessments on conveyance of
unit. (a) At the time of the first conveyance of each unit, except by foreclosure or deed
in lieu thereof, or from the declarant in which conveyance the rights and obligations of
the declarant are assumed, every mortgage and other lien, except such as are not yet
due and payable as permitted by subsection (d) of section 47-70, affecting such unit,
including the percentage of undivided interest of the unit in the common elements, shall
be paid and satisfied of record, or the unit being conveyed and its percentage of undivided
interest in the common elements shall be released therefrom by recorded partial release.
(b) The grantee of a unit shall be jointly and severally liable with the grantor for all
unpaid assessments against the latter for his share of the common expenses up to the
time of the grant or conveyance, without prejudice to the grantee's right to recover from
the grantor the amounts paid by the grantee therefor. Any such grantee shall be entitled
to a statement from the unit owners' association setting forth the amount of such unpaid
assessments against the grantor, and such grantee shall not be liable for, nor shall the
unit conveyed be subject to a lien for, any unpaid assessments against the grantor in
excess of the amount therein set forth.
(1963, P.A. 605, S. 13, 23; 1971, P.A. 813, S. 12; P.A. 76-308, S. 10, 36.)
History: 1971 act provided that at the time of first conveyance of unit every mortgage and other lien which is due and
payable shall be paid; P.A. 76-308 provided an exception from that requirement when the first conveyance was by foreclosure, deed in lieu of foreclosure or when the purchaser assumed the rights and obligations of the declarant.
See Sec. 47-90c re effective date and applicability of chapter.