§ 32-21-5-8.5 — Disclosures relating to property covered by governing documents of homeowners association

Indiana § 32-21-5-8.5

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 21: CONVEYANCE PROCEDURES FOR REAL
• Ch. 5: Residential Real Estate Sales Disclosure

Text

5. (a) This section applies to all transfers of
title to property after June 30, 2015.
(b) The definitions in IC 32-25.5-2 apply in this section.
(c) As used in this section, "property" refers to real property covered
by the governing documents of a homeowners association.
(d) As used in this section, "purchaser" refers to a person who
purchases property.
(e) The following must be provided by the seller to a purchaser not
later than ten (10) days before the sale of the property closes:
(1) A disclosure that the property is in a community governed by
a homeowners association.
(2) A copy of the recorded governing documents.
(3) A statement indicating whether there are assessments and the
amount of any assessments.
(4) The following information about a board member,
homeowners association agent, or other person who has a contract
with the homeowners association to provide any management
services for the homeowners association:
(A) The name.
(B) The business or home address.
(f) A homeowners association or agent of a homeowners association
providing a statement of unpaid assessments or other charges of the
homeowners association relating to the property may charge not more
than two hundred fifty dollars ($250) for the statement.
(g) The failure to provide any of the documents listed in subsection
(e) does not limit or prevent enforcement of the governing documents
by the homeowners association.

Legislative History

As added by P.L.141-2015, SEC.1.