Condominium Resale Certificate - Williams & Williams

''A25 MIC/jif 2/4/84
Elements and, if this Condominium contains only Units having
horizontal boundaries described in the Declaration, title to
all the Property in the Condominium vests upon termination
in the Unit Owners as tenants in common in proportion to
their Allocated Interest as provided in subsection (g) of
this section, and liens on the Units shift accordingly.
While the tenancy in common exists, each Unit Owner and his
successors in interest have an exclusive right or to occupancy
of the portion of the Property which formerly constituted
his Unit.
(1) Following termination of this Condominium the
proceeds of any sale of real estate, together with the
assets of the Association, are held by the Association as
trustee for Unit Owners and holders of liens on the Units as
their interests may appear.
Following termination, creditors
of the Association holding liens on the Units, which were
recorded prior to termination, may enforce such liens in the
same manner as any lienholder.
Any other creditors of the
Association shall be treated as if they had perfected liens
on the Unit immediately prior to termination.
(g)
The respective interests of Unit Owners referred to
in subsections (c) and Cd) of this section are as follows:
Ci) Except as provided in subdivision (ii) of this
subsection, the respective interests of Unit Owners are
the fair market values of their Units, Limited Common
Elements and Common Element interests immediately before
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