§ 47-270 — Resales of units.

Connecticut § 47-270

• Jurisdiction: Connecticut
• Title 47: Land and Land Titles
• Ch. 828: Common Interest Ownership Act

Text

(a) Except in the case of a sale in which delivery of a public offering statement is required under either this chapter or chapter 825, or unless exempt under subsection (b) of section 47-262, a unit owner shall furnish to a purchaser or such purchaser's attorney, before the earlier of conveyance or transfer of the right to possession of a unit, a copy of the declaration, other than any surveys and plans, the bylaws, the rules or regulations of the association, and a certificate containing: (1) A statement disclosing the effect on the proposed disposition of any right of first refusal or other restraint on the free alienability of the unit held by the association; (2) a statement setting forth the amount of the periodic common expense assessment and any unpaid common expense or special assessment currently due and payable from the selling unit owner; (3) a statement of any other fees payable by the owner of the unit being sold; (4) a statement of any capital expenditures in excess of one thousand dollars approved by the executive board for the current and next succeeding fiscal year; (5) a statement of the amount of any reserves for capital expenditures; (6) the current operating budget of the association; (7) a statement of any unsatisfied judgments against the association and the existence of any pending suits or administrative proceedings in which the association is a party, including foreclosures but excluding other collection matters; (8) a statement of the insurance coverage provided for the benefit of unit owners, including any schedule of standard fixtures, improvements and betterments in the units covered by the association's insurance that the association prepared pursuant to subsection (b) of section 47-255; (9) a statement of any restrictions in the declaration affecting the amount that may be received by a unit owner on sale, condemnation, casualty loss to the unit or the common interest community or termination of the common interest community; (10) in a cooperative, an accountant's statement, if any was prepared, as to the deductibility for federal income tax purposes by the unit owner of real property taxes and interest paid by the association; (11) if the association is unincorporated, the name of the statutory agent for service of process filed with the Secretary of the State pursuant to section 47-244a; (12) a statement describing any pending sale or encumbrance of common elements; (13) a statement disclosing the effect on the unit to be conveyed of any restrictions on the owner's right to use or occupy the unit or to lease the unit to another person; (14) a statement disclosing the number of units whose owners are at least sixty days' delinquent in paying their common charges on a specified date within sixty days of the date of the statement; (15) a statement disclosing the number of foreclosure actions brought by the association during the past twelve months and the number of such actions pending on a specified date within sixty days of the date of the statement; (16) a statement disclosing (A) the most recent fiscal period within the five years preceding the date on which the certificate is being furnished for which an independent certified public accountant reported on a financial statement, and (B) whether such report on a financial statement was a compilation, review or audit; (17) any established maintenance standards adopted by the association pursuant to subsection (e) of section 47-257; (18) a copy of any notice recorded on land records pursuant to subsection (a) of section 22a-134i; and (19) a statement that provides the volume and page number from the applicable municipal land records of any environmental use restriction, as defined in section 22a-133n, that encumbers the parcel or any portion of the parcel on which the common interest community is located. (b) (1) Not later than ten business days after receipt of a request in a record from a unit owner and payment by the unit owner to the association of a fee of one hundred eighty-five dollars, as adjusted pursuant to section 47-213 , plus either five cents for each page of document copies provided by the association pursuant to this section or a flat fee of ten dollars for an electronic version of those documents, for the preparation of the certificate and other documents, the association shall furnish a certificate containing the information necessary to enable the unit owner to comply with this section and any other documents required by this section. An additional fee of not more than ten dollars for expedited preparation may be established if the certificate and all required documents are furnished to the unit owner not later than three business days after the request in a record is received by the association. No fee under this subsection may include costs for services provided by an attorney or paralegal. (2) A unit owner providing a certificate and documents pursuant to subsection (a) of this section is not liable to the purchaser for any erroneous information provided by the association and included in the certificate and documents. (c) A purchaser is not liable for any unpaid assessment or fee greater than the amount set forth in the certificate prepared by the association. A unit owner is not liable to a purchaser for the failure or delay of the association to provide the certificate and documents in a timely manner, but the purchase contract is voidable by the purchaser until (1) the expiration of five days, excluding Saturdays, Sundays and legal holidays, after the certificate and documents have been delivered to such purchaser or such purchaser's attorney, or seven days, excluding Saturdays, Sundays and legal holidays, after the certificate and documents have been sent by registered or certified mail or mail evidenced by a certificate of mailing to such purchaser or such purchaser's attorney, or (2) conveyance, whichever first occurs. (d) A dealer who offers a unit which he owns shall, in addition to the material provided to a purchaser or such purchaser's attorney under subsection (a) of this section, furnish to such purchaser or such purchaser's attorney a copy of any public offering statement that the dealer received at the time he purchased his unit. (e) The association shall, during the month of January in each year, file in the office of the town clerk of the municipality or municipalities where such common interest community is located a certificate setting forth the name and mailing address of the officer of the association or the managing agent from whom a resale certificate may be requested, and shall, thereafter, file such a certificate within thirty days of any change in the name or address of such officer or agent. The town clerk shall record such certificate in the land records.

Legislative History

(P.A. 83-474, S. 71, 96; P.A. 84-472, S. 19, 23; 84-546, S. 104, 173; P.A. 88-322, S. 1; P.A. 91-341, S. 18, 19; P.A. 95-187, S. 24; P.A. 05-125, S. 1; P.A. 09-213, S. 4; 09-225, S. 41; P.A. 10-186, S. 24; P.A. 14-215, S. 3; Sept. Sp. Sess. P.A. 20-9, S. 4; P.A. 23-18, S. 3.) History: P.A. 84-472 amended Subsec. (a) by adding “under either this chapter or chapter 825”, deleting provision allowing unit owner to furnish a purchaser certain documents “before execution of any contract for sale of a unit”, deleting requirement that unit owner furnish a purchaser with “the most current public offering statement of any person still holds special declarant rights”, and replacing in Subdiv. (4) “anticipated by the association” with “in excess of one thousand dollars approved by the executive board”, amended Subsec. (b) by replacing “within ten days after a request” with “within ten business days after receipt of a written request”, adding a provision for the “payment by the unit owner of any reasonable fee for preparation of the certificate and other materials” and adding “and documents” and amended Subsec. (c) by adding “and documents” and excluding Saturdays, Sundays and legal holidays from the five-day period during which the contract is voidable; P.A. 84-546 made technical change in Subsec. (d); P.A. 88-322 amended Subsec. (a) to provide option of furnishing the documents to “such purchaser's attorney”, amended Subsec. (b) to provide that for the preparation of the certificate and other materials the unit owner pay a fee of not more than $75, including printing, photocopying and related costs rather than “any reasonable fee”, amended Subsec. (c) to rephrase the provisions re the voidability of contracts and to add provision that the contract is voidable until the expiration of “seven days, excluding Saturdays, Sundays and legal holidays, after the certificate and documents have been sent by registered or certified mail or mail evidenced by a certificate of mailing to such purchaser or such purchaser's attorney”, amended Subsec. (d) to add references to “such purchaser's attorney” and added Subsec. (e) re the filing in the town clerk's office of a certificate with the name and address of the officer of the association or managing agent from whom a resale certificate may be requested; P.A. 91-341 amended Subsec. (a) to add Subdiv. (11) re the name of an unincorporated association's statutory agent for service of process; P.A. 95-187 amended Subsec. (a) to require unit owner to furnish the documents “before the earlier of conveyance or transfer of the right to possession of a unit” rather than “before conveyance”, add in Subdiv. (1) “held by the association”, replace in Subdiv. (2) “monthly” with “periodic”, replace in Subdiv. (3) “selling unit owner” with “owner of the unit being sold”, add Subdiv. (12) re a statement describing any pending sale or encumbrance of common elements and add Subdiv. (13) re a statement disclosing the effect on the unit to be conveyed of any restrictions on the use or occupancy or leasing of the unit; P.A. 05-125 amended Subsec. (b) to revise provisions re allowed costs, substitute $125 for $75, allow an expedited preparation fee of not more than $10, prohibit fees for services provided by an attorney or paralegal, insert Subdiv. designators (1) and (2) and make technical changes; P.A. 09-213 amended Subsec. (e) to replace requirement that town clerk “keep such certificate on file in his office and make it available for inspection” with requirement that town clerk “record such certificate in the land records”; P.A. 09-225 amended Subsec. (a)(7) to reference administrative proceedings, including foreclosures but excluding other collection matters, and substitute “party” for “defendant”, amended Subsec. (a)(8) to include any schedule of standard fixtures, improvements and betterments covered by association's insurance prepared pursuant to Sec. 47-255(b), and added Subsecs. (a)(14) re statement of delinquencies, (a)(15) re statement of number of foreclosure actions, and (a)(16) re established maintenance standards, and amended Subsec. (b)(1) to substitute “request in a record” for “written request” and rewrite provisions re costs for copies and electronic version of documents, effective July 1, 2010; P.A. 10-186 amended Subsec. (a)(14) to add “a specified date within sixty days of” re date of statement, and amended Subsec. (b)(1) to delete requirement that association itemize and provide list of actual printing, photocopying and related costs, effective July 1, 2010; P.A. 14-215 amended Subsec. (a) to add new Subdiv. (16) re disclosure of information related to report on financial statement and redesignate existing Subdiv. (16) as Subdiv. (17); Sept. Sp. Sess. P.A. 20-9 amended Subsec. (a) by adding Subdiv. (18) re notice recorded on land records pursuant to Sec. 22a-134i(a) and adding Subdiv. (19) re statement of any environmental use restriction, effective October 2, 2020; P.A. 23-18 amended Subsec. (b)(1) by replacing $125 fee for preparation of a resale certificate with $185 fee, as adjusted pursuant to Sec. 47-213.