Property; regulation of specialized land transactions; provide issuance of statements of accounts

Summary

The bill changes the Georgia Condominium Act so that unit owners, prospective purchasers, mortgagees or lenders can ask the association for a statement of all unpaid assessments and related information. If the association fails to deliver the statement within five business days, the lien for those assessments is removed for the transaction. The law also sets a modest fee and specifies what must be included in the statement.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share