(a) In the case of a sale of a unit where delivery of a public offering statement is required pursuant to § 81-402(c) of this title, a seller
(1) Shall have the subject property released from all liens, except liens on real estate that a declarant has the right to withdraw from the common interest community, that the purchaser does not expressly agree to take subject to or assume and that encumber:
(i) In a condominium, that unit and its common element interest, and
(ii) In a cooperative or planned community, that unit and any limited common elements assigned thereto, or
(2) Shall provide a surety bond or substitute collateral for or insurance against the lien as provided for liens on real estate.
(b) Before conveying real estate to the association, the declarant shall have that real estate released from:
76 Del. Laws, c. 422, § 2; 77 Del. Laws, c. 91, §§ 76, 82.
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