§514B-45 - Blanket mortgages and other blanket liens affecting a unit at time of first conveyance or lease.
[§514B-45] Blanket mortgages and other blanket liens affecting a unit at time of first conveyance or lease. At the time of the first conveyance or lease of each unit, every mortgage and other lien, except any improvement district or utility assessment, affecting both the unit and any other unit shall be paid and satisfied of record, or the unit being conveyed or leased and its common interest shall be released therefrom by a duly recorded partial release. [L 2005, c 93, pt of §2]