Indiana Code 32-21-5-8.5. Disclosures relating to property covered by governing documents of homeowners association
(b) The definitions in IC 32-25.5-2 apply in this section.
Terms Used In Indiana Code 32-21-5-8.5
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.
As added by P.L.141-2015, SEC.1.