WILLIAM DONALD SCHAEFER, Governor

Ch. 82

OBLIGATED ON BECOMING AN OWNER OF THE LOT, INCLUDING A STATEMENT
THAT THESE OBLIGATIONS ARE ENFORCEABLE AGAINST AN OWNER'S
TENANTS, IF APPLICABLE; AND

(II) THE BYLAWS AND RULES OF THE PRIMARY
DEVELOPMENT, AND OF OTHER RELATED DEVELOPMENTS TO THE EXTENT
REASONABLY AVAILABLE, TO WHICH THE PURCHASER SHALL BECOME
OBLIGATED ON BECOMING AN OWNER OF THE LOT, INCLUDING A STATEMENT
THAT THESE OBLIGATIONS ARE ENFORCEABLE AGAINST AN OWNER AND THE
OWNER'S TENANTS, IF APPLICABLE.

(C) (1) WITHIN 30 CALENDAR DAYS OF ANY RESALE TRANSFER OF A
LOT WITHIN A DEVELOPMENT, THE TRANSFEROR SHALL NOTIFY THE
HOMEOWNERS ASSOCIATION FOR THE PRIMARY DEVELOPMENT OF THE
TRANSFER.

(2) THE NOTIFICATION SHALL INCLUDE, TO THE EXTENT
REASONABLY AVAILABLE, THE NAME AND ADDRESS OF THE TRANSFEREE, THE
NAME AND FORWARDING ADDRESS OF THE TRANSFEROR, THE DATE OF
TRANSFER, THE NAME AND ADDRESS OF ANY MORTGAGEE, AND THE
PROPORTIONATE AMOUNT OF ANY OUTSTANDING HOMEOWNERS ASSOCIATION
FEE OR ASSESSMENT ASSUMED BY EACH OF THE PARTIES TO THE
TRANSACTION.

[(c)] (D) The requirements of subsection (b) of this
section shall be deemed to have been fulfilled if the information
required to be disclosed is provided to the purchaser in writing
in a clear and concise manner. The disclosures may be summarized
or produced in any collection of documents, including plats, the
declaration, or the organizational documents of the homeowners
association, provided those documents effectively convey the
required information to the purchaser.

(E) IN SATISFYING THE REQUIREMENTS OF SUBSECTION (B) OF
THIS SECTION, THE VENDOR SHALL BE ENTITLED TO RELY UPON THE
DISCLOSURES CONTAINED IN THE DEPOSITORY AFTER JUNE 30, 1989.

11B-107.

(A) A CONTRACT FOR THE INITIAL SALE OF A LOT IN A
DEVELOPMENT OF ANY SIZE TO A PERSON WHO DOES NOT INTEND TO OCCUPY
OR RENT THE LOT FOR RESIDENTIAL PURPOSES IS NOT ENFORCEABLE BY
THE VENDOR UNLESS:

(1)  THE PURCHASER IS GIVEN, AT OR BEFORE THE TIME A
CONTRACT IS ENTERED INTO BETWEEN THE VENDOR AND THE PURCHASER, OR
WITHIN 7 DAYS THEREOF CALENDAR DAYS OF ENTERING INTO THE
CONTRACT, THE DISCLOSURES SET FORTH IN SUBSECTION (B) OF THIS
SECTION;

(2)  THE PURCHASER IS GIVEN NOTICE OF ANY CHANGE IN
MANDATORY FEES AND PAYMENTS EXCEEDING 10 PERCENT OF THE AMOUNT

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