448.4-111. Release of liens. - Missouri Statutes

State Codes and Statutes

Statutes > Missouri > T29 > C448 > 448_4-111

Release of liens.

448.4-111. 1. In the case of a sale of a unit wheredelivery of an original sale certificate is required pursuant tosubsection 3 of section 448.4-102, a seller shall, beforeconveying a unit, record or furnish to the purchaser releases ofall liens affecting that unit and its common element interestwhich the purchaser does not expressly agree to take subject toor assume, or shall provide a surety bond or substitutecollateral for or insurance against the lien. This subsectiondoes not apply to any real estate which the declarant has theright to withdraw.

2. Before conveying real estate to the association, thedeclarant shall have that real estate released from:

(1) All liens the foreclosure of which would deprive unitowners of any right of access to or easement of support of theirunits; and

(2) All other liens on that real estate unless the originalsale certificate describes certain real estate which may beconveyed subject to liens in specified amounts.

(L. 1983 H.B. 177)

State Codes and Statutes

Statutes > Missouri > T29 > C448 > 448_4-111

Release of liens.

448.4-111. 1. In the case of a sale of a unit wheredelivery of an original sale certificate is required pursuant tosubsection 3 of section 448.4-102, a seller shall, beforeconveying a unit, record or furnish to the purchaser releases ofall liens affecting that unit and its common element interestwhich the purchaser does not expressly agree to take subject toor assume, or shall provide a surety bond or substitutecollateral for or insurance against the lien. This subsectiondoes not apply to any real estate which the declarant has theright to withdraw.

2. Before conveying real estate to the association, thedeclarant shall have that real estate released from:

(1) All liens the foreclosure of which would deprive unitowners of any right of access to or easement of support of theirunits; and

(2) All other liens on that real estate unless the originalsale certificate describes certain real estate which may beconveyed subject to liens in specified amounts.

(L. 1983 H.B. 177)

State Codes and Statutes

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State Codes and Statutes

Statutes > Missouri > T29 > C448 > 448_4-111

Release of liens.

448.4-111. 1. In the case of a sale of a unit wheredelivery of an original sale certificate is required pursuant tosubsection 3 of section 448.4-102, a seller shall, beforeconveying a unit, record or furnish to the purchaser releases ofall liens affecting that unit and its common element interestwhich the purchaser does not expressly agree to take subject toor assume, or shall provide a surety bond or substitutecollateral for or insurance against the lien. This subsectiondoes not apply to any real estate which the declarant has theright to withdraw.

2. Before conveying real estate to the association, thedeclarant shall have that real estate released from:

(1) All liens the foreclosure of which would deprive unitowners of any right of access to or easement of support of theirunits; and

(2) All other liens on that real estate unless the originalsale certificate describes certain real estate which may beconveyed subject to liens in specified amounts.

(L. 1983 H.B. 177)