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What Are Connecticut Condo Resale Certificates, Bylaws & Declarations?
What Are Connecticut Condo Resale Certificates, Bylaws & Declarations?
The Connecticut Condominium Laws was enacted partly to protect the purchaser by requiring certain disclosures. In order to purchase a condo the seller must furnish you with the Declaration, association bylaws, rules and regulations and a resale document. (For condominiums greater than twelve units).
The Resale Document/Certificate is a package of disclosure documents given by the seller to the buyers of common interest ownership unit. These documents must include:
Monthly common charges Unpaid charges the seller owns the association. Any restriction on a maximum or minimum resale amount.  The owners’ right to use or occupy the unit.  Owners’ ability to lease the unit.  Amount of reserve for capital expenditures. Any upcoming capital spending approved greater than $1,000. Number of unit owners who are at least sixty days delinquent in in paying common charges.  Number of Foreclosures actions brought or pending by the association.  Each association must provide the seller wit the resale documents within 10 business days of request and the name of the contact person must be on file with the town clerk. The association fee may not exceed $125 but an extra $10 may be requested for a request within ... more

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