448.3-117. 1. A judgment for money against the association,if recorded, is not a lien on the common elements, but is a lienin favor of the judgment lienholder against all of the units inthe condominium at the time the judgment was entered. No otherproperty of a unit owner is subject to the claims of creditors ofthe association.
2. Notwithstanding the provisions of subsection 1 of thissection, if the association has granted a security interest inthe common elements to a creditor of the association pursuant tosection 448.3-112, the holder of that security interest shallexercise his right against the common elements before hisjudgment lien on any unit may be enforced.
3. Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage,including a judgment lien or lien attributable to work performedor materials supplied before creation of the condominium, becomeseffective against two or more units, the unit owner of anaffected unit may pay to the lienholder the amount of the lienattributable to his unit, and the lienholder, upon receipt ofsuch payment, shall promptly deliver a release of the liencovering that unit. The amount of the payment shall beproportionate to the ratio which that unit owner's common expenseliability bears to the common expense liabilities of all unitowners whose units are subject to the lien. After payment, theassociation may not assess or have a lien against that unitowner's unit for any portion of the common expenses incurred inconnection with that lien.
4. A judgment against the association shall be indexed inthe name of the condominium and the association and, if soindexed, is notice of the lien against the units.
448.3-117. 1. A judgment for money against the association,if recorded, is not a lien on the common elements, but is a lienin favor of the judgment lienholder against all of the units inthe condominium at the time the judgment was entered. No otherproperty of a unit owner is subject to the claims of creditors ofthe association.
2. Notwithstanding the provisions of subsection 1 of thissection, if the association has granted a security interest inthe common elements to a creditor of the association pursuant tosection 448.3-112, the holder of that security interest shallexercise his right against the common elements before hisjudgment lien on any unit may be enforced.
3. Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage,including a judgment lien or lien attributable to work performedor materials supplied before creation of the condominium, becomeseffective against two or more units, the unit owner of anaffected unit may pay to the lienholder the amount of the lienattributable to his unit, and the lienholder, upon receipt ofsuch payment, shall promptly deliver a release of the liencovering that unit. The amount of the payment shall beproportionate to the ratio which that unit owner's common expenseliability bears to the common expense liabilities of all unitowners whose units are subject to the lien. After payment, theassociation may not assess or have a lien against that unitowner's unit for any portion of the common expenses incurred inconnection with that lien.
4. A judgment against the association shall be indexed inthe name of the condominium and the association and, if soindexed, is notice of the lien against the units.
448.3-117. 1. A judgment for money against the association,if recorded, is not a lien on the common elements, but is a lienin favor of the judgment lienholder against all of the units inthe condominium at the time the judgment was entered. No otherproperty of a unit owner is subject to the claims of creditors ofthe association.
2. Notwithstanding the provisions of subsection 1 of thissection, if the association has granted a security interest inthe common elements to a creditor of the association pursuant tosection 448.3-112, the holder of that security interest shallexercise his right against the common elements before hisjudgment lien on any unit may be enforced.
3. Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage,including a judgment lien or lien attributable to work performedor materials supplied before creation of the condominium, becomeseffective against two or more units, the unit owner of anaffected unit may pay to the lienholder the amount of the lienattributable to his unit, and the lienholder, upon receipt ofsuch payment, shall promptly deliver a release of the liencovering that unit. The amount of the payment shall beproportionate to the ratio which that unit owner's common expenseliability bears to the common expense liabilities of all unitowners whose units are subject to the lien. After payment, theassociation may not assess or have a lien against that unitowner's unit for any portion of the common expenses incurred inconnection with that lien.
4. A judgment against the association shall be indexed inthe name of the condominium and the association and, if soindexed, is notice of the lien against the units.
