Frank is selling his condominium unit in Albany and the buyer requests a copy of the condominium's financial statements. Under New York law, what information must typically be provided to prospective buyers?
Correct Answer
D) Complete financial statements, budgets, and reserve studies as specified in the bylaws
New York condominium law and typical bylaws require associations to provide financial information to prospective buyers, including financial statements, budgets, reserve studies, and other relevant financial documents. This disclosure helps buyers understand the building's financial condition.
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