(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 liens that encumber that unit and its common element interest, except liens on real estate that a declarant has the right to withdraw from the condominium, that the purchaser does not expressly agree in a written contract of sale which specifically identifies such lien and its amount to take subject to or assume, or provide a surety bond or substitute collateral for or insurance against the lien in the manner provided for liens on real estate in Section real property to other security” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”AL” title=”35″>35-11-233(b).
contract signature

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Terms Used In Alabama Code 35-8A-411

  • Contract: A legal written agreement that becomes binding when signed.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
(b) In conveying real estate to the association the declarant shall have that real estate released from:

(i) all liens the foreclosure of which would deprive unit owners of any right of access to or easement of support of their units, and
(ii) all other liens on that real estate unless the offering statement describes certain real estate which may be conveyed subject to liens in specified amounts.
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