At the time of the first conveyance of each apartment or site, every mortgage and other lien affecting the apartment or site, including the percentage of undivided interest of the apartment or site in the common areas and facilities, shall be paid and satisfied of record, or the apartment or site being conveyed and its percentage of undivided interest in the common areas and facilities shall be released therefrom by partial release duly recorded.
Vt. Stat. Ann. tit. 27, § 1314
Blanket mortgages and other blanket liens affecting an apartment or site at time of first conveyance
Known as the Condominium Ownership Act
The act spans §§ 27-1301 to 27-1365 (53 sections).
Added 1967, No. 228 (Adj
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.