Arizona statutes 33-1806 and 33-1260 require that sellers of condominiums, property located in planned communities, or of property governed by an owner association, provide buyers with certain documents related to the development. In order to assist in satisfying this requirement, the Arizona Association of Realtors publishes two forms:
- HOA Condominium / Planned Community (HOA) Addendum
- Commercial Property Owner's Association (CPOA) Addendum
Where Can I Get A Copy of the HOA or CPOA Addenda?
We will provide you a copy of any Arizona disclosure form for free upon submitting a flat fee MLS listing through our website. We charge a one-time fee of $95 to list your home on the MLS.
What Are the Documents the HOA/CPOA is Required to Provide?
See Arizona statutes 33-1806 and 33-1260 for a complete list, but here is some of what to expect (from 33-1260):
- A copy of the bylaws and the rules of the association.
- A copy of the declaration.
- A dated statement containing:
- The telephone number and address of a principal contact for the association, which may be an association manager, an association management company, an officer of the association or any other person designated by the board of directors.
- The amount of the common expense assessment for the unit and any unpaid common expense assessment, special assessment or other assessment, fee or charge currently due and payable from the selling unit owner. If the request is made by a lienholder, escrow agent, unit owner or person designated by a unit owner pursuant to section 33-1256, failure to provide the information pursuant to this subdivision within the time provided for in this subsection shall extinguish any lien for any unpaid assessment then due against that unit.
- A statement as to whether a portion of the unit is covered by insurance maintained by the association.
- The total amount of money held by the association as reserves.
- If the statement is being furnished by the association, a statement as to whether the records of the association reflect any alterations or improvements to the unit that violate the declaration. The association is not obligated to provide information regarding alterations or improvements that occurred more than six years before the proposed sale. Nothing in this subdivision relieves the seller of a unit from the obligation to disclose alterations or improvements to the unit that violate the declaration, nor precludes the association from taking action against the purchaser of a unit for violations that are apparent at the time of purchase and that are not reflected in the association's records.
- If the statement is being furnished by the unit owner, a statement as to whether the unit owner has any knowledge of any alterations or improvements to the unit that violate the declaration.
- A statement of case names and case numbers for pending litigation with respect to the unit filed by the association against the unit owner or filed by the unit owner against the association. The unit owner or the association shall not be required to disclose information concerning the pending litigation that would violate any applicable rule of attorney-client privilege under Arizona law.
- A statement that provides "I hereby acknowledge that the declaration, bylaws and rules of the association constitute a contract between the association and me (the purchaser). By signing this statement, I acknowledge that I have read and understand the association's contract with me (the purchaser). I also understand that as a matter of Arizona law, if I fail to pay my association assessments, the association may foreclose on my property." The statement shall also include a signature line for the purchaser and shall be returned to the association within fourteen calendar days.
- A copy of the current operating budget of the association.
- A copy of the most recent annual financial report of the association. If the report is more than ten pages, the association may provide a summary of the report in lieu of the entire report.
- A copy of the most recent reserve study of the association, if any.
- A statement summarizing any pending lawsuits, except those relating to the collection of assessments owed by unit owners other than the selling unit owner, in which the association is a named party, including the amount of any money claimed.
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