515B.4-105 COMMON INTEREST COMMUNITY WITH BUILDING ONCE OCCUPIED.
The disclosure statement of a common interest community containing any building that was
at any time before the creation of the common interest community wholly or partially occupied,
for any purpose, by persons other than purchasers or persons who occupied with the consent
of purchasers, shall contain, in addition to the information required by sections
(1) a professional opinion prepared by a registered professional architect or engineer, licensed
in this state, describing the current condition of all structural components and mechanical and
electrical installations material to the use and enjoyment of the building, to the extent reasonably
ascertainable without disturbing the improvements or dismantling the equipment, which will be in
place or be operational at the time of conveyance of the first unit to a person other than a declarant;
(2) a statement by the declarant of the expected useful life of each item reported on in
paragraph (1) or a statement that no representations are made in that regard; and
(3) a list of any outstanding notices of uncured violations of building code or other municipal
regulations, together with the estimated cost of curing those violations.
History: 1993 c 222 art 4 s 5; 2005 c 121 s 36