HI SB502

Establishes uniform disclosure standards for residential real property subject to declarations from condominium projects, cooperative housing corporations, and other community associations.

Requires sellers to disclose articles of incorporation, bylaws, declarations, and rules relating to common areas, architectural control, maintenance, and assessments.

Sellers must provide required documents within ten calendar days after receiving the title report, with buyers having fifteen days to examine documents and rescind the purchase contract if desired.

Allows sellers to provide documents electronically via internet links with buyer consent instead of furnishing hard copies.

Effective upon approval, with required disclosures applying to all contracts or agreements entered into on or after May 1, 2014.