homeowners' associations; property covenants; disclosures

Responsibility for sending the pending sale notice shifted from the association to the unit owner, who must now provide a written notice with the buyer's name, email, and address.

The requirement to include minutes from the previous three open board meetings in the disclosure package was deleted.

References to specific 'title transfer fees' authorized by the declaration were removed from the list of required disclosures.

Fee collection rules were updated to restrict charging resale disclosure fees only once to the unit owner per transaction, removing the ability to charge the purchaser separately.

The section defining the enforceability of private covenants and public policy violations was entirely removed from the bill.

The detailed disclosure requirements (including financial audits, reserve studies, and litigation lists) were limited to planned communities and condominiums with fewer than fifty units.

New mandatory disclosures were added for larger communities (50+ units), requiring the provision of financial audits, reserve studies, and summaries of pending lawsuits.

A new acknowledgment statement requiring the purchaser to sign at the close of escrow, confirming they understand the binding nature of covenants and the risk of foreclosure for unpaid assessments.

Explicit definitions were added for 'unit owner' and 'member' to exclude real estate brokers, escrow agents, and trustees from the disclosure obligations.

Specific civil penalties were established for associations that fail to provide required information or knowingly provide false statements, including fines up to $1,200.