A buyer is purchasing a resale condominium unit in Georgia. Under the Georgia Condominium Act, what must be provided to the buyer to satisfy the statutory disclosure requirements for the transaction?
Correct Answer
B) Copies of the declaration, bylaws, and rules and regulations of the condominium association
Under the Georgia Condominium Act (O.C.G.A. § 44-3-111), a buyer of a resale condominium unit is entitled to receive copies of the declaration, bylaws, and any rules and regulations governing the condominium. These governing documents define the unit owner's rights, obligations, use restrictions, and assessment responsibilities, making them the fundamental required disclosure documents for a condominium resale transaction.
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Previous Question
The Peachtree Towers Condominium Association in Atlanta needs to make a major repair to the building's roof that will cost $150,000. The association's reserve fund only has $50,000. Under Georgia law, what is the association's authority regarding the remaining $100,000 needed?
Next Question
Maria's condominium association in Augusta has been poorly managed, and she believes the board is not fulfilling its fiduciary duties. Under the Georgia Condominium Act, what is Maria's primary legal recourse?