A bill for an act relating to residential real estate, including access to records of unit owners associations and the disclosure of home inspection information.
What changed between versions
Unit owners' associations must now provide a certification stating whether dues are paid in full or delinquent, along with any approved future assessments.
Associations must provide a schedule and disclosure of all fees related to transferring real property ownership within the community.
The fee charged for providing these records is capped at the estimated cost of production or reproduction, and sellers must receive reasonable documentation supporting any fee charged.
Sellers now have the right to receive, without charge, specific portions of a home inspection report that relate to remediation requests made by the buyer.
If a buyer fails to provide the requested inspection report portions to the seller, the seller may cancel the purchase contract without penalty.