Sec. 47-267. Requirements for public offering statement when community contains conversion building.
Sec. 47-267. Requirements for public offering statement when community
contains conversion building. (a) The public offering statement of a common interest
community containing any conversion building shall contain, in addition to the information required by section 47-264: (1) A statement by the declarant, incorporating a report
prepared by a registered architect or engineer, describing the present condition of all
structural components and mechanical and electrical installations material to the use
and enjoyment of the building; (2) a statement by the declarant of the approximate dates
of construction, installation and major repairs, and the expected remaining useful life
of each item reported on in subdivision (1) of this subsection, together with the estimated
cost, in current dollars, of replacing each of the same; and (3) a list of any outstanding
notices from the municipality of uncured violations of building code or other municipal
regulations, together with the estimated cost of curing those violations.
(b) This section applies only to buildings containing units that may be occupied for
residential use. In those cases, this section shall apply to all such buildings and the
declarant shall provide a purchaser with the information required by subsection (a) of
this section even if the declarant is otherwise exempt under subsection (c) of section 47-215 from the requirement of delivering a public offering statement because the common
interest community (A) contains no more than twelve units, (B) is not subject to any
development rights and (C) does not utilize a master association.
(P.A. 83-474, S. 68, 96; P.A. 86-218, S. 3.)
History: P.A. 86-218 rewrote Subsec. (b) to require the declarant to provide a purchaser of a residential unit with the
information required by Subsec. (a) even if the declarant is otherwise exempt from the public offering statement requirement
because of certain specified characteristics of the common interest community.
Cited. 207 C. 441.