HB 2800: Property; owners association; sale of real estate; notifications; disclosures; fees; restrictions; documentations; emergency. - Oklahoma

House Committee Substitute → Floor (House) · 3 edits

MINOR

The bill was formatted for floor consideration after committee review, with the title changed from 'Committee Substitute' to 'Floor Version.' The substantive content of the bill remains largely unchanged, though some formatting and line breaks were adjusted to reflect the floor version format.

TECHNICAL

Header changed from 'Committee Substitute' to 'Floor Version' to indicate the bill has moved from committee to the full House floor for consideration.

Page numbering and formatting were updated to reflect the floor version layout, including changes to page headers and line breaks.

Some line breaks and spacing were adjusted throughout the document to conform to floor version formatting standards.

Proposed Policy Committee Substitute 1 → House Committee Substitute · 5 edits

MODERATE

The bill was amended to replace the original Proposed Policy Committee Substitute with a House Committee Substitute version, which includes substantive changes to fee limits, document retention requirements, and covenants restrictions. The House version tightens fee caps for property documents and clarifies who must provide copies of recorded covenants during real estate transactions.

Scope change

The bill's scope remains focused on property management and homeowners associations, but the amendment clarifies the specific parties responsible for providing documents and adjusts fee structures.

REQUIREMENT

Changed the entity responsible for providing copies of recorded covenants from the managing entity to the title company settlement services provider closing the sale.

Modified the requirement for good standing statements to be provided within seven days for a fee not exceeding $50.00 per request.

Clarified that fee limits for owners association documents ($175.00) do not include fines, assessments, or services.

Maintained the prohibition against restrictive covenants that limit fair economic use of property, including long-term or short-term rentals and in-home businesses.

FISCAL

Reduced the maximum fee for providing copies of recorded covenants from unspecified amounts to no more than $25.00 for copies, with additional charges allowed only for certified copies from the county clerk.

Engrossed → Proposed Policy Committee Substitute 1 · 6 edits

MODERATE

The bill was amended to replace the entire text with a new version that significantly changes document retention timelines, fee limits, and notification requirements for homeowners associations. The amendment clarifies accessibility requirements, adjusts fee caps, and adds protections against restrictive covenants that limit fair economic use of property.

Scope change

The bill's scope remains focused on homeowners associations and real estate developments, but the substantive requirements for document access, fees, and covenant restrictions have been modified.

REQUIREMENT

Document accessibility timeline changed from 3 business days to 72 hours for electronic access to recorded covenants and restrictions.

Fee limit for document requests increased from $50 to $175 for certain services, while maintaining a $25 limit for property condition reports.

New provision prohibits homeowners associations from adopting restrictive covenants that limit fair economic use of property, including short-term rentals, long-term rentals, and in-home businesses.

Notification timeline for homeowners about covenant updates changed from 5 business days to 7 days for good standing statements.

Fine structure update frequency limited to once per calendar year at an annual owners association meeting.

TECHNICAL

Section numbering and statutory references were reorganized to align with new section titles and content.

Introduced → Engrossed · 13 edits · Mar 27, 2025

MAJOR

HB 2800 was amended to clarify and expand requirements for homeowners associations (HOAs) regarding document retention, fee disclosures, and homeowner protections. The bill now mandates electronic accessibility of recorded covenants, sets specific dollar limits on fees and fines, and adds protections against restrictive covenants that limit fair economic use of property.

Scope change

The bill's scope was expanded to include requirements for managing entities and third-party management companies, not just owners associations. It also added provisions for title insurance companies to provide good standing letters and disclosure packets during property transactions.

REQUIREMENT

Recorded covenants, conditions, and restrictions must be retained by managing entities and made accessible electronically within 3 business days of request.

HOA notification to homeowners about covenant updates must occur within 5 business days (unchanged from original) but now explicitly includes email or postal mail requirements.

Individual fees assessed by HOAs or third-party management companies are capped at $175, excluding fines, assessments, and services.

Homeowners cannot be charged fees for reports on property condition when requesting documents for sale.

Title insurance companies must provide good standing letters at cost (no charge to homeowner), and disclosure packets at title commitment must include updated covenants and restrictions.

HOAs must maintain quarterly updated records of financial condition, including audits, dues, and outstanding assessments or fines.

HOAs must issue a statement within 5 business days detailing a homeowner's standing regarding dues and assessments, capped at $50 per request.

HOAs must delineate fee structures and potential charges to homeowners in association documents.

Fine structure updates can occur no more than once per calendar year, with homeowners notified at annual association meetings.

HOAs are prohibited from passing restrictive covenants that limit fair economic use of property, including rights to rent long-term or short-term or operate in-home businesses.

Buyers can withdraw from a sales contract within 5 days of receiving covenants, conditions, and restrictions or financial information.

Copy fees for recorded covenants are capped at $25, with certified copies charged at actual county clerk costs.

TECHNICAL

Bill was marked as emergency legislation to take effect immediately upon passage and approval.

Property; owners association; sale of real estate; notifications; disclosures; fees; restrictions; documentations; emergency.

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