Amendment status not verified — confirm the current text below against the official source.
All sums assessed by the Association of Apartment Owners but unpaid for the share of the common expenses chargeable to any apartment shall constitute a charge on 275 such apartment in priority to all other charges, except only to (i) the charge if any of the apartment for payment of Government and Municipal taxes and (ii) all sums unpaid on a first mortgage of the apartment. Joint and several liability of vendor, etc. 20.(1) Upon the sale of an apartment, the purchaser of the apartment shall be jointly and severally liable with the vendor for all unpaid assessments against the latter for his share of the common expenses upto the time of the sale without prejudice to the purchaser’s or grantee’s right to recover from the vendor the amount paid by the purchaser or grantee therefor. (2) A purchaser referred to in sub-section (1) shall be entitled to a statement from the Secretary or Board of Managers, setting forth the amount of the unpaid assessment against the vendor and such purchaser or grantee shall not be liable for, nor shall the apartment sold be subject to a charge for any unpaid share of common expenses against such apartment accrued prior to such sale or bequest in excess of the amount therein set forth. Insurance 21.(1) The Manager or Board of Managers, if required by the Declaration or the bye- laws or by a majority of the apartment owners, or at the request of a mortgagee having a first mortgage covering the property, shall have the authority to and shall obtain insurance for the property against loss or damage by fire and such other hazards under such terms and for such amounts as shall be required or requested. (2) Insurance referred to in sub-section (1) shall be written in the name of the Manager or of the Board of Managers of the Association of the Apartment Owners as trustee for each of the apartment owners in the percentages established in the Declaration. (3) Premiums in respect of insurance referred to in sub-section (1) shall be common expenses and such insurance shall be without prejudice to the right of each apartment owner to insure his own apartment for his benefit. Disposition of property, destruction and damage