§ 34-36.1-3.17 Other liens affecting thecondominium. – (a) Except as provided in subsection (b), a judgment for money against theassociation if recorded is not a lien on the common elements, but is a lien infavor of the judgment lienholder against all of the units in the condominium atthe time the judgment was entered. No other property of a unit owner is subjectto the claims of creditors of the association.
(b) If the association has granted a security interest in thecommon elements to a creditor or the association pursuant to §34-36.1-3.12, the holder of that security interest shall exercise its rightagainst the common elements before its judgment lien on any unit may beenforced.
(c) Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage, including ajudgment lien or lien attributable to work performed or materials suppliedbefore creation of the condominium, becomes effective against two (2) or moreunits, the unit owner of an affected unit may pay to the lienholder the amountof the lien attributable to his or her unit, and the lienholder, upon receiptof payment, promptly shall deliver a release of the lien covering that unit.The amount of the payment must be proportionate to the ratio which that unitowner's common expense liability bears to the common expense liabilities of allunit owners whose units are subject to the lien. After payment, the associationmay not assess or have a lien against that unit owner's unit for any portion ofthe common expenses incurred in connection with that lien.
(d) A judgment against the association must be indexed in thename of the condominium and the association and, when so indexed, is notice ofthe lien against the units.
§ 34-36.1-3.17 Other liens affecting thecondominium. – (a) Except as provided in subsection (b), a judgment for money against theassociation if recorded is not a lien on the common elements, but is a lien infavor of the judgment lienholder against all of the units in the condominium atthe time the judgment was entered. No other property of a unit owner is subjectto the claims of creditors of the association.
(b) If the association has granted a security interest in thecommon elements to a creditor or the association pursuant to §34-36.1-3.12, the holder of that security interest shall exercise its rightagainst the common elements before its judgment lien on any unit may beenforced.
(c) Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage, including ajudgment lien or lien attributable to work performed or materials suppliedbefore creation of the condominium, becomes effective against two (2) or moreunits, the unit owner of an affected unit may pay to the lienholder the amountof the lien attributable to his or her unit, and the lienholder, upon receiptof payment, promptly shall deliver a release of the lien covering that unit.The amount of the payment must be proportionate to the ratio which that unitowner's common expense liability bears to the common expense liabilities of allunit owners whose units are subject to the lien. After payment, the associationmay not assess or have a lien against that unit owner's unit for any portion ofthe common expenses incurred in connection with that lien.
(d) A judgment against the association must be indexed in thename of the condominium and the association and, when so indexed, is notice ofthe lien against the units.
§ 34-36.1-3.17 Other liens affecting thecondominium. – (a) Except as provided in subsection (b), a judgment for money against theassociation if recorded is not a lien on the common elements, but is a lien infavor of the judgment lienholder against all of the units in the condominium atthe time the judgment was entered. No other property of a unit owner is subjectto the claims of creditors of the association.
(b) If the association has granted a security interest in thecommon elements to a creditor or the association pursuant to §34-36.1-3.12, the holder of that security interest shall exercise its rightagainst the common elements before its judgment lien on any unit may beenforced.
(c) Whether perfected before or after the creation of thecondominium, if a lien other than a deed of trust or mortgage, including ajudgment lien or lien attributable to work performed or materials suppliedbefore creation of the condominium, becomes effective against two (2) or moreunits, the unit owner of an affected unit may pay to the lienholder the amountof the lien attributable to his or her unit, and the lienholder, upon receiptof payment, promptly shall deliver a release of the lien covering that unit.The amount of the payment must be proportionate to the ratio which that unitowner's common expense liability bears to the common expense liabilities of allunit owners whose units are subject to the lien. After payment, the associationmay not assess or have a lien against that unit owner's unit for any portion ofthe common expenses incurred in connection with that lien.
(d) A judgment against the association must be indexed in thename of the condominium and the association and, when so indexed, is notice ofthe lien against the units.
