Maryland Condo and HOA Resale Disclosure Law Revised
New resale disclosure requirements for Maryland condominiums and homeowner associations apply beginning October 1, 2016. Condos will now be required to provide prospective purchasers with the current reserve study report or a summary of the report, and a statement of the status and amount of any reserve or replacement fund. There are also changes regarding disclosure of unsatisfied judgments against the condominium and pending lawsuits to which the condominium is a party. Read the article………….
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