AZ HB2146

Requires unit owners and associations for both condominiums and planned communities to provide disclosure documents to purchasers AND purchasers' authorized agents (if any) within 10 days of notice of pending sale.

Disclosure documents must include bylaws, rules, declaration, financial information, reserve studies, pending litigation details, and a purchaser acknowledgment statement confirming understanding of association contract and foreclosure rights.

Associations may charge aggregate fees up to $400 for resale disclosure services, plus up to $100 rush fees (for 72-hour service) and $50 update fees, with fees collected at close of escrow only.

Associations violating fee provisions are subject to civil penalties up to $1,200; purchasers or sellers damaged by non-disclosure can pursue all legal remedies including recovery of attorney fees.

Managing agents acting on behalf of associations are subject to the same disclosure and fee requirements; certain sales are exempt including those issued public reports and trustee sales.