Real property: common interest developments.

The Davis-Stirling Common Interest Development Act provides for the creation and regulation of common interest developments. Under existing law, a common interest development is managed by an association pursuant to the provisions of the governing documents of the development. This bill would provide that any provision that is added to or included in a governing document initially recorded on or after January 1, 2011, that prohibits the rental or lease of a separate interest is void, unless the provision imposing the prohibition is approved by the owners of separate interests, as provided. Existing law requires that an owner of a separate interest in a common interest development provide certain items to a prospective purchaser prior to transfer of title. This bill would also require the owner of a separate interest, when a governing document prohibits the rental or leasing of all or any of the separate interests, to provide a statement describing the prohibition. This bill would also incorporate additional changes to Section 1368 of the Civil Code, as proposed by SB 1128, to be operative only if SB 1128 and this bill are both enacted, each bill amends Section 1368 of the Civil Code, and this bill is enacted after SB 1128.