SB283 - Uniform Condominium Act Amendments

• Amends Alabama's Uniform Condominium Act to clarify and expand provisions governing the creation, management, and termination of condominium associations and specifies rights of both developers (declarants) and unit owners.

• Modifies procedures for condominium declaration filing, unit description, development rights, common element allocation, and special declarant rights including sales offices, easements, and master association provisions.

• Updates association powers regarding budgets, assessments, insurance requirements, lien enforcement for unpaid assessments, and unit owner voting rights; requires detailed financial records and resale certificates.

• Clarifies offering statement requirements for purchasers including property descriptions, budgets, warranties, and material disclosures; establishes 7-day cancellation rights for purchasers receiving offering statements.

• Effective January 1, 2018.