Would add the resulting inspection report of the exterior elevated elements to the list of disclosures to prospective purchasers.
Current Status: Pending
FindHOALaw Quick Summary:
Existing law requires the board of a condominium association to cause a visual inspection to be conducted, at least every 9 years, of the exterior elevated elements for which the association has maintenance or repair responsibility. Existing law requires the owner of a separate interest to provide specified documents to a prospective purchaser, as provided, and an association to provide to the owner of a separate interest, upon request, those specified documents. Existing law requires an association to distinguish and bill separately any fee charged for providing those specified documents to the owner and provides a form for billing disclosures.
This bill would amend Civil Code Section 4525 to include in the list of documents that an owner is required to provide to a prospective purchaser the result of an inspection of any exterior elevated elements, and would modify the Civil Code Section 4528 form to reflect this requirement.
from the California Legislature's website
Related Topics
Related Statutes
- Civil Code Section 1134. Disclosure of Defects to Purchaser.
- Civil Code Section 4575. Transfer Fees.
- Civil Code Section 4540. Enforcement of Escrow Disclosure Requirements.
- Civil Code Section 4535. Owner’s Additional Transfer Requirements.
- Civil Code Section 4530. Escrow Documents Provided by Association.
- Civil Code Section 4528. Document Disclosure Form.
- Civil Code Section 4525. Disclosures to Prospective Purchaser.
Related Case Law
- Berryman v. Merit Property Management, Inc.
(2007) 152 Cal.App.4th 1544
[Association Records; Transfer Document Fees] An association’s managing agent is permitted to earn a profit on the fees it charges for providing property transfer documents.