CT HB07068

Groups of unit owners representing at least 10% of a common interest community association may petition Superior Court to order an independent third-party accounting of the association's financial records, effective October 1, 2025

Petitioning unit owners must provide written certification of good faith belief in grounds for accounting, obtain a signed opinion from an independent CPA specializing in fraud/financial forensics indicating evidence of financial fraud or fund misuse, and hold at least 10% of proxies authorizing the petition

No petition may be filed if an accounting was completed within the preceding 12 months, and all accounting expenses must be paid by the petitioning unit owners

Adds new disclosure requirement for property sales: sellers must inform buyers if the property is in a common interest community with more than 12 units, advising them to obtain a "Resale Certificate" as required by state law

For common interest communities with 12 or fewer units where no resale certificate is available, buyers are advised to consult trade professionals, attorneys, real estate professionals, financial analysts, and community residents for information