COMMON INTEREST ASSOCIATION

Amends the Common Interest Community Association Act. Includes within the Act's coverage a "property owners' association". Provides that a property owners' association means any association, organized group of property owners, corporation, not-for-profit corporation, or other entity that is identified in a declaration, or other documents recorded by a developer in which (1) the entity owns property in the development over which unit owners possess an easement; and (2) the entity is provided the power to impose regulations on easement holders regarding the use of the property burdened with the easements. Provides that if these conditions are met, unit owners who possess easements rights have an obligation to pay for the maintenance, improvement, insurance premiums, or real estate taxes of the property burdened by their easements, unless the declaration or other documents recorded by the developer expressly state otherwise. Effective immediately.