Sec. 47-75a. Resale of unit by person other than declarant.

357 words·~2 min read·/ct/title-47/chapter-825-condominium-act/47-75a

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)In the event of any resale of a condominium unit by a unit owner other than the declarant, such owner shall obtain from the unit owners' association and furnish to the purchaser, prior to the settlement date of the disposition, the following:

(1)Appropriate statements pursuant to subsection

(b)of section 47-87 and, if applicable, subsection

(c)of this section;

(2)a statement of any capital expenditures anticipated by the unit owners' association within the twelve months next following the date of the statement;

(3)a statement of the status and amount of any reserve for replacement fund and any portion of such fund earmarked for any specified project by the board of directors.

(b)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 in subsection

(a)of this section upon the written request of any unit owner within fifteen days of the receipt of such request.

(c)If the condominium instruments create any rights of first refusal or other restraints on free alienability of the condominium units, such rights and restraints shall be void unless the condominium instruments make provision for promptly furnishing to any unit owner or purchaser requesting the same, within fifteen days after the association acts on such request but not longer than forty days, a recordable statement certifying to any exercise, waiver of, or failure or refusal to exercise, such rights and restraints, in all cases where such exercise, waiver, failure or refusal does in fact occur. Failure or refusal to furnish such a statement within forty days after delivery of a written request by a unit owner or purchaser in accordance with the provisions of the condominium instruments shall make all such rights and restraints inapplicable to any disposition of a condominium unit in contemplation of which such statement was requested. Any such statement shall be binding on the association of unit owners and every unit owner. No action may be commenced enforcing such right unless commenced and a notice recorded on the land records within six months of the recording of such conveyance.