A seller is selling a condominium in a California common interest development (CID). In addition to the TDS, which disclosure package is the seller required to provide under California Civil Code §4525?
Correct Answer
A) The HOA's governing documents, current financial statements, reserve study, and notice of any pending special assessments
California Civil Code §4525 requires the seller of a unit in a common interest development to provide the buyer with the HOA's governing documents (CC&Rs, bylaws, rules), current financial statements, reserve study, and notice of any pending or approved special assessments. This package allows the buyer to evaluate the financial and governance health of the association.
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Previous Question
A California listing agent represents a seller who is an elderly widow with limited English proficiency. The seller does not fully understand the TDS questions and asks the agent to fill out the seller's section for her. Under California law, how should the agent handle this situation?
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California Civil Code §1103 requires sellers to disclose whether a property falls within certain statutory natural hazard zones on the Natural Hazard Disclosure Statement (NHD). How many specific zones must be addressed, and which of the following correctly identifies all of them?