DE HB475

Extends resale certificate validity from 90 days to 120 days to reduce repetitive update fees for sellers in common interest communities.

Requires disclosure on resale certificates of any fees payable by purchasers to the association at settlement.

Grants purchasers a 5-day cancellation right after receiving a resale certificate, unless the certificate was provided before contract execution.

Extends reserve funding timelines for pre-existing condominiums from 3, 2, and 1 years to 8, 6, and 5 years respectively to reduce financial burden.

Clarifies exemptions from the Delaware Uniform Common Interest Ownership Act for small common interest communities (20 units or fewer) and pre-existing communities, including treatment of amended declarations.