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OK HB2800
Bill
Status
3/31/2025
Primary Sponsor
Thomas Marti
Click for details
AI Summary
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Managing entities of real estate developments must retain recorded covenants, conditions, and restrictions and make them electronically accessible within 3 business days of request to property owners or parties in a home transaction
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Owners associations must notify all homeowners via email or postal mail within 5 business days of adopting any updates to covenants, conditions, and restrictions
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Individual fees assessed by owners associations or third-party management companies are capped at $175, and homeowners cannot be charged for property condition reports when selling; statements on dues and outstanding assessments must be provided within 5 business days for no more than $50
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Fine schedules for covenant violations must be documented and can only be updated once per calendar year at an annual meeting
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Settlement services providers must provide copies of recorded covenants and restrictions to buyers at closing for no more than $25, plus any county clerk costs for certified copies; bill takes effect immediately upon passage as an emergency measure
Legislative Description
Property; owners association; sale of real estate; notifications; disclosures; fees; restrictions; documentations; emergency.
Last Action
Second Reading referred to Judiciary
4/1/2025