2015 Code of Alabama
Title 35 - PROPERTY.
Chapter 8A - ALABAMA UNIFORM CONDOMINIUM ACT.
Article 4 - Protection of Condominium Purchasers.
Section 35-8A-401 - Applicability; waiver.
(a) This article applies to all units subject to this chapter, except as provided in subsection (b) or as modified or waived by agreement of purchasers of units in a condominium in which all units are restricted to nonresidential use.
(b) Neither an offering statement nor a resale certificate need be prepared or delivered in the case of:
(1) A gratuitous disposition of a unit;
(2) A transfer pursuant to court order;
(3) A disposition by a government or governmental agency;
(4) A transfer by foreclosure or disposition by deed in lieu of foreclosure;
(5) A disposition to a person in the business of selling real estate who intends to offer those units to purchasers;
(6) A disposition that may be canceled at any time and for any reason by the purchaser without penalty; or
(7) A disposition of a time share interest in a unit.
(Acts 1990, No. 90-551, p. 858, §4-101.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
