§ 1314 - Blanket mortgages and other blanket liens affecting an apartment or site at time of first conveyance - Vermont Statutes

§ 1314. Blanket mortgages and other blanket liens affecting an apartment or site at time of first conveyance

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. (1967, No. 228 (Adj. Sess.), § 14, eff. Jan. 23, 1968; amended 1993, No. 97, § 2.)