CICAA-NOTICE OF ASSESSMENTS

Amends the Common Interest Community Association Act. Provides that an owner who intends to convey any interest in property subject to assessments under this Act shall notify the board that the owner intends to convey the property. Provides that upon receiving such a notice from the owner, the board shall provide each person to whom an interest in the property is conveyed with written documentation detailing the assessment structure of the association. Provides that the written documentation must include the penalties for failure to pay the assessments required by the association. Provides that the written documentation shall provide space for both the owner and each person to whom the property is conveyed to indicate by signature or initial that the written documentation has been provided to and reviewed by the person to whom the property is conveyed. Provides that the board shall be provided with and keep a copy of the signed or initialed documentation.