Common interest developments.

The Davis-Stirling Common Interest Development Act provides for the creation and regulation of common interest developments. Existing law requires that certain documents be recorded in order to create a common interest development, including a declaration. Existing law provides that a declaration that specifies a termination date, but that contains no provision for extension of the termination date, may be extended by the approval of members, as provided, except that no single extension of the terms of the declaration may exceed the initial term of the declaration or 20 years, whichever is less. Existing law makes related legislative findings. This bill would prohibit a single extension of the terms of the declaration from exceeding the initial term of the declaration or 25 years, whichever is less. The bill would also make nonsubstantive changes to the legislative findings.