2013 Regular Session



Condominiums and Homeowners Associations - Contracts for Resale - Notice of Potential Special Assessments

Sponsored by:

Senator Kelley


In the Senate - Unfavorable Report by Judicial Proceedings

Synopsis:Providing that a contract for the resale of a unit in a condominium by a unit owner other than a developer is not enforceable unless the contract contains a specified notice, and the unit owner furnishes to the purchaser specified information, concerning potential special assessments; and providing that a contract for the resale of a lot in a development subject to the authority of a homeowners association is not enforceable by the vendor unless the purchaser is given a specified notice concerning potential special assessments.
Analysis:Fiscal and Policy Note
All Sponsors:Senator Kelley
Additional Facts:Cross-filed with: HB0023
Bill File Type: Regular
Effective Date(s): October 1, 2013
Judicial Proceedings  Listen to Committee Hearing
Broad Subject(s):Real Property
Narrow Subject(s):Assessments
Contracts -see also- Land Installment Contracts; Procurement
Homeowners Associations
Real Estate -see also- Agents and Brokers
Real Property
Statutes:Article - Real Property
(11-135, 11B-106)

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October 24, 2017 1:07 P.M.