Vermont Statutes Title 27 Sec. 4-119
Terms Used In Vermont Statutes Title 27 Sec. 4-119
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
§ 4-119. Declarant’s obligation to complete and restore
(a) Unless an improvement is labeled “need not be built,” the declarant shall complete all improvements depicted on any site plan or other graphic representation, if the site plan or other graphic representation is contained in the public offering statement or in any promotional material distributed by or for the declarant.
(b) The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with the remainder of the common interest community, of any portion of the common interest community affected by the exercise of rights reserved pursuant to or created by section 2-110, 2-111, 2-112, 2-113, 2-115, or 2-116 of this title. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)