A condominium unit in Minneapolis was created in 1990 and is governed by a declaration recorded under the Minnesota Condominium Act. The current owner, Helen, wants to sell the unit to Buyer Greg. Which statute primarily governs the resale disclosure obligations for this transaction?

Correct Answer

B) Minn. Stat. Ch. 515 (Minnesota Condominium Act), because the unit was created before June 1, 1994

The Minnesota Common Interest Ownership Act (MCIOA), Minn. Stat. Ch. 515B, governs condominiums and common interest communities created on or after June 1, 1994. Because Helen's condominium was created in 1990 — before the June 1, 1994 effective date — it is governed by the older Minnesota Condominium Act, Minn. Stat. Ch. 515. The resale disclosure obligations for this unit would therefore be found in Ch. 515, not Ch. 515B.