§ 4-120. Substantial completion of units
If delivery of a public offering statement is required for the sale of a unit, a contract of sale may be executed, but interest in that unit shall be conveyed only after the declaration is recorded and the unit is substantially completed, as evidenced by a recorded certificate of substantial completion executed by an independent architect, professional surveyor, or engineer, or by issuance of a certificate of occupancy. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)
Structure Vermont Statutes
Title 27A - Uniform Common Interest Ownership Act (1994)
Article 4 - Protection of Purchasers
§ 4-102. Liability for public offering statement requirements
§ 4-103. Public offering statement; general provisions
§ 4-104. Common interest communities subject to development rights
§ 4-107. Common interest community securities
§ 4-113. Express warranties of quality
§ 4-114. Implied warranties of quality
§ 4-115. Exclusion or modification of implied warranties of quality
§ 4-116. Statute of limitations for warranties
§ 4-117. Effect of violations on rights of action
§ 4-118. Labeling of promotional material