Property Owners' Association Act; disclosure requirements, declarant control.

Summary

The bill mandates that any declarant who still holds unexpired control over a property owners' association must reveal those rights in the sales contract for a lot, unless the lot is being sold for development or resale. This applies once the board, excluding the declarant, is mostly made up of owners of improved lots. The goal is to give buyers clear information about who can influence the association’s business.

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

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