RSA 356-B:58 · Resale by Purchaser

356-B:58 Resale by Purchaser. –

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I.

In the event of any resale of a condominium unit or any interest therein by any person other than the declarant, the prospective unit owner shall have the right to obtain from the owners' association, prior to the contract date of the disposition, the following:

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(a)

Appropriate statements pursuant to RSA 356-B:46, VIII and, if applicable, RSA 356-B:47;

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(b)

A statement of any capital expenditures and major maintenance expenditures anticipated by the unit owners' association within the current or succeeding 2 fiscal years;

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(c)

A statement of the status and amount of any reserve for the major maintenance or replacement fund and any portion of such fund earmarked for any specified project by the board of directors;

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(d)

A copy of the income statement and balance sheet of the unit owners' association for the last fiscal year for which such statement is available;

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(e)

A statement of the status of any pending suits or judgments in which the unit owners' association is a party defendant;

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(f)

A statement setting forth what insurance coverage is provided for all unit owners by the unit owners' association and what additional insurance coverage would normally be secured by each individual unit owner; and

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(g)

A statement that any improvements or alterations made to the unit, or the limited common areas assigned thereto, by the prior unit owner are not known to be in violation of the condominium instruments.

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(h)

A copy of the condominium declaration, by-laws, and any formal rules of the association.

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(i)

A statement of the amount of monthly and annual fees, and any special assessments made within the last 3 years.

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II.

The principal officer of the unit owners' association, or such other officer or officers as the condominium instruments may specify, shall furnish the statements prescribed by paragraph II upon the written request of any prospective unit owner within 10 days of the receipt of such request. Source. 1977, 468:1. 2004, 73:2, eff. Jan. 1, 2005.

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