5409 - Release of liens. - Pennsylvania Statutes

§ 5409. Release of liens. (a) General rule.--Before conveying a unit, other than by deed in lieu of foreclosure, to a purchaser other than a declarant, a declarant shall record or furnish to the purchaser releases of all liens affecting that unit and its rights with respect to any common elements which the purchaser does not expressly agree to take subject to or assume or shall provide a surety bond or substitute collateral for or insurance against the liens adequate in nature and amount. This subsection does not apply to any convertible or withdrawable real estate in which no unit has been conveyed. (b) Other liens.--Before conveying real estate to the association, the declarant shall have the real estate released from: (1) All liens the foreclosure of which would deprive unit owners of any right of access to or easements of support of their units. (2) All other liens on that real estate unless the public offering statement describes certain real estate which may be conveyed subject to liens in specified amounts. Cross References. Section 5409 is referred to in section 5102 of this title.