Section 22. In the event of a foreclosure upon a condominium development, the lender taking over the project shall succeed to any obligations the developer has with the unit owners and to the tenants, except that the developers shall remain liable for any misrepresentation already made and for warranties on work done prior to the transfer.
Structure Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Title I - Title to Real Property
Section 2 - Application of Chapter; Creation of Other Interests in Realty
Section 3 - Nature of Interest; Sale or Descent
Section 4 - Exclusive Ownership and Possession; Restrictions
Section 5 - Interest in Common Areas or Facilities; Percentage; Division
Section 6 - Common Profits and Expenses; Lien
Section 7 - Contribution Toward Common Expenses; Liability; Offset, Deduction, or Waiver Prohibited
Section 8 - Master Deed; Recording; Contents
Section 8a - Leasehold Condominiums; Rights of Unit Owners
Section 9 - Deeds of Units; Contents
Section 11 - By-Laws; Mandatory Provisions
Section 12 - By-Laws; Additional Provisions
Section 13 - Claims Involving Common Areas and Facilities; Liability
Section 14 - Taxation and Betterment Assessments; Lien
Section 15 - Subdivision Control Law
Section 16 - Submission of Property to This Chapter
Section 18 - Improvements; Costs
Section 19 - Removal From Provisions of This Chapter
Section 20 - Municipal Participation in Condominium Organization and Ownership
Section 21 - Multiple Family Condominium Units; By-Laws; Master Deed
Section 22 - Foreclosure of Condominium Development; Liability of Lender and Developer
Section 23 - Prior Consent for Amendment of Deed, Trust or Bylaw