SF 3646

Introduction - 94th Legislature (2025 - 2026)

Posted on 02/20/2026 09:15 a.m.

A bill for an act
relating to common interest communities; requiring boards to provide declarants
with disclosure documents at no cost; amending Minnesota Statutes 2024, section
515B.4-101.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2024, section 515B.4-101, is amended to read:

515B.4-101 APPLICABILITY; DELIVERY OF DISCLOSURE STATEMENT.

(a) Sections 515B.4-101 through 515B.4-118 apply to all units subject to this chapter,
except as provided in subsection (c) or as modified or waived by written agreement of
purchasers of a unit which is restricted to nonresidential use.

(b) Subject to subsections (a) and (c), a declarant who offers a unit to a purchaser shall
deliver to the purchaser a current disclosure statement which complies with the requirements
of section 515B.4-102. The disclosure statement shall include any material amendments to
the disclosure statement made prior to the conveyance of the unit to the purchaser. The
declarant shall be liable to the purchaser to whom it delivered the disclosure statement for
any false or misleading statement set forth therein or for any omission of a material fact
therefrom.

(c) Neither a disclosure statement nor a resale disclosure certificate need be prepared or
delivered in the case of:

(1) a gratuitous transfer;

(2) a transfer pursuant to a court order;

(3) a transfer to a government or governmental agency;

(4) a transfer to a secured party by foreclosure or deed in lieu of foreclosure;

(5) an option to purchase a unit, until exercised;

(6) a transfer to a person who "controls" or is "controlled by," the grantor as those terms
are defined with respect to a declarant under section 515B.1-103(2);

(7) a transfer by inheritance;

(8) a transfer of special declarant rights under section 515B.3-104; or

(9) a transfer in connection with a change of form of common interest community under
section 515B.2-123.

(d) A purchase agreement for a unit shall contain the following notice: "The following
notice is required by Minnesota Statutes. The purchaser is entitled to receive a disclosure
statement or resale disclosure certificate, as applicable. The disclosure statement or resale
disclosure certificate contains important information regarding the common interest
community and the purchaser's cancellation rights."

(e) The sale, to the initial occupant, of a platted lot or other parcel of real estate (i) which
is or may be subject to a master declaration, (ii) which is intended for residential occupancy,
and (iii) which does not and is not intended to constitute a unit, shall be subject to the
following requirements:

(1) The purchase agreement for the lot or other parcel shall contain the following notice:
"The following notice is required by Minnesota Statutes: The real estate to be conveyed
under this agreement is or may be subject to a master association as defined in Minnesota
Statutes, chapter 515B. The master developer is required to provide to the buyer, within ten
days after receipt of a request from the buyer or the buyer's authorized representative, a
statement containing the information required by Minnesota Statutes, section
515B.4-102(a)(20), with respect to the master association. The statement contains important
information regarding the master association. The name, address, and telephone number of
the master developer are [insert information]."

(2) A master developer shall, within ten days after receipt of a request described in clause
(1), furnish to the requesting person the information required to be provided by section
515B.4-102(a)(20).

(f) A claim by a buyer based upon a failure to comply with subsection (e):

(1) shall be limited to legal, and not equitable, remedies; or

(2) shall be barred unless it is commenced within the time period specified in section
515B.4-115(a).

new text begin (g) At no cost to the declarant, a board must provide to the declarant any document the
declarant is required to deliver to a purchaser under this chapter.
new text end