Any person
offering to sell or lease lots or units in a common interest
development (a community apartment project, condominium
project, planned development, or stock cooperative) which
requires a public report prior to the offering must make
available the following documents to the prospective buyer
or lessee before the execution of an offer to purchase
or lease:
• the declaration of covenants, conditions,
and restrictions;
• the articles of incorporation
and bylaws for the association;
• any other
instrument which establishes or defines the common, mutual,
and reciprocal rights and responsibilities of the owners
or lessees of interests in the development;
•
the current budget and related financial statements of
the association; and,
• a statement prepared
by the governing body of the association regarding any
outstanding delinquent assessments and related charges
levied by the association against the subdivision interest
the prospective purchaser (or lessee) is considering buying
(or leasing).
•
In addition, the subdivider (or agent) must deliver to
the purchaser or lessee copies of the foregoing documents
prior to close of escrow. (Business and Professions
Code Section 11018.6)
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