West Virginia Code 36A-4-4 – Mortgages and other liens of record affecting property at time of first conveyance of each unit
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At the time of the first conveyance of each unit following the recording of the original declaration, every mortgage and other lien of record affecting the entire building or property or a greater portion thereof than the unit being conveyed shall be paid and satisfied of record, or the unit being conveyed shall be released therefrom by partial release duly recorded.
Terms Used In West Virginia Code 36A-4-4
- Building: means any multiunit building or buildings or complex thereof, whether in vertical or horizontal arrangement, as well as other improvements comprising a part of the property and used or intended for use for residential, commercial or industrial purposes or for any other lawful purpose or for any combination of such uses. See West Virginia Code 36A-1-2
- Declaration: means the instrument by which the owner of property submits it to the provisions of this chapter as hereinafter provided, and all amendments thereof. See West Virginia Code 36A-1-2
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means and includes the land, the building, all improvements thereon, all owned in fee simple, and all easements, rights and appurtenances belonging thereto, which have been or are intended to be submitted to the provisions of this chapter. See West Virginia Code 36A-1-2
- Recorded: means that an instrument has been duly entered of record in the office of the clerk of the county court of the county in which the property is situate. See West Virginia Code 36A-1-2
- Unit: means a part of the property designed or intended for any type of independent use, which has a direct exit to a public street or way, or to a common element or common elements leading to a public street or way, or to an easement or right-of-way leading to a public street or way, and includes the proportionate undivided interest in the common elements which is assigned thereto in the declaration, or any amendments thereof. See West Virginia Code 36A-1-2