HB426 Summary - Alabama Uniform Condominium Act Amendments

• Amends Alabama's Uniform Condominium Act to clarify and specify the rights of developers (declarants) and unit owners in condominium associations, including provisions for creation, management, and termination of condominiums.

• Modifies developer control periods, requiring declarant control to terminate no later than 60 days after 75% of units are conveyed to non-declarant owners, or two years after the developer ceases offering units for sale.

• Establishes requirements for condominium creation including structural completion verification, proper declaration filing, plat/plan specifications, and budgeting procedures with unit owner ratification.

• Clarifies unit owner protections including assessment procedures, insurance requirements, maintenance responsibilities, and restrictions on developer-imposed liens, along with buyer disclosure and cancellation rights for new unit purchases.

• Effective date: January 1, 2019.