Title 44, Chapter 3, Section 86
( 44-3-86)
(a) As used in this Code section, the term "lessor" means any
lessor, sublessor, or grantor of an estate for years. (b) In the case of any leasehold condominium: (1) After the recording of the declaration, no lessor who executed
the declaration and no successor-in-interest to the lessor shall
have any right or power to terminate all or any part of the
leasehold interest of any unit owner so long as the condominium
shall exist; (2) In the event that any such lessor shall acquire title to or
any other interest in any unit by any method whatsoever, the
undivided interest thereby acquired by the lessor in the common
elements shall not be merged with the lessor's underlying interest
in the submitted property; but the two estates shall remain
separate and divided so long as the condominium shall exist; (3) If provided for in the condominium instruments, the obligation
of each unit owner to pay rents and any other amounts under any
lease from any lessor shall be secured by a lien upon the
condominium unit of the unit owner. The lien shall be prior to all
other liens and encumbrances on that condominium unit except liens
for ad valorem taxes; and any other lien or encumbrance which the
condominium instruments provide shall be superior thereto. The
lien shall secure all costs incurred, including, without
limitation, reasonable attorney's fees, in connection with the
foreclosure thereof and may be foreclosed by action, judgment, and
foreclosure in the same manner as is provided for any other lien
for the improvement of real property; (4) Unless otherwise provided in the condominium instruments and
except as provided in paragraph (5) of this Code section, no unit
owner shall be obligated to pay any amount in excess of the rents
due and payable under any lease multiplied by the percentage or
other proportion of the unit owner's liability for the rents as
set forth in the declaration; (5) Unless otherwise provided in the condominium instruments, no
lessor shall be entitled to require performance by any unit owner
of any covenant of any such lease in any form other than by the
payment of money by the unit owner; provided, however, that, in
the event of any default under any lease other than default in the
payment of money, the lessor shall be entitled to perform any
defaulted covenant and charge all reasonable costs incurred in
connection with performance, including, without limitation,
reasonable attorney's fees, against the unit owners in proportion
to their liability for the rents, which costs shall be considered
rent for purposes of the lien provided for in paragraph (3) of
this Code section; and (6) Except as limited in this Code section, in the condominium
instruments, or by law, any lessor shall have all rights and
powers provided by law or by his lease. |