Description
The Davis-Stirling Common Interest Development
Act requires an association, upon written request, to provide the owner of a
separate interest, or a recipient authorized by the owner, with a copy of
specific documents relating to transfer disclosures that the owner is required
to make to a prospective purchaser of the owner’s separate interest. That act
authorizes the association to collect a reasonable cost for delivery of those
documents but prohibits any additional fees for electronic delivery.
AB 2430 (Maienschein) was signed by the Governor on July
23, 2014, and amends Civil Code Sections 4528 and 4530. It requires the
cost for providing the required documents to be separately stated and billed
from other charges that are part of the transfer or sales transaction. This
bill authorizes an association to collect a reasonable fee from a seller for
its actual costs in providing documents under these provisions and requires a
seller to be responsible for compensating an association, person, or entity for
providing documents under these provisions. It also requires a seller to provide
a prospective purchaser with certain current documents that the seller
possesses free of charge and prohibits a seller from giving a prospective
purchaser the required documents bundled with other documents. AB 2430
becomes effective January 1, 2015.
