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Wednesday
Feb212018

Did You Receive A Condominium Association Bill Of Rights Before Purchasing Your Condominium Unit?

From time to time, prospective condominium purchasers ask us to review their Condominium Public Offering Statements and Resale Packages. Pursuant to the Condominium Owner Bill of Rights and Responsibilities Amendment Act (effective last spring), developers as well as management companies and Associations of self-managed condominiums are required to provide a copy of the Condominium Association Bill of Rights to all prospective purchasers in either the Public Offering Statement or the Resale Certificate package (as the case may be). Although this document is listed in the GCAAR Condominium Resale Addendum, many of the Resale Certificates we have reviewed do not include a copy of the Bill of Rights. If you are a developer, a management company, or a self-managed condominium building, do be sure to speak with your attorney about the mandatory disclosure documents to be given to prospective purchasers.

 

 

The material on this website is not offered as legal advice on any matter and should not be used as a substitute for seeking professional legal advice.