DE HB475 | 2009-2010 | 145th General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 12 2010 - 100% progression
Action: 2010-07-12 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 12 2010 - 100% progression
Action: 2010-07-12 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Summary
This bill makes certain amendments to the Delaware Common Interest Ownership Act (DUCIOA) and the Unit Property Act. Section 1 makes a technical amendment to clarify that the Unit Property Act still applies to newly created condominiums that are exempt from the Common Interest Ownership Act. Section 2 makes it clear that amendments made to the declaration of a common interest community does not affect the status of that community as exempt from some or all of DUCIOA. Sections 3 and 4 make a technical amendment to clarify that a new condominium or cooperative qualifies for the exemption from DUCIOA so long as it will not be more than 20 units even if built in phases and clarifies which sections of DUCIOA apply. Section 5 adds section 81-127 (explaining how to give notice to unit owners) to the list of sections that apply to common interest communities which existed prior to the effective date of DUCIOA. This was inadvertently dropped by a previous amendment simply by the renumbering of sections. Section 6 clarifies the exception for small preexisting cooperatives and planned communities. Section 7 clarifies that exempt common interest communities do not use a public offering statement. Section 8 extends the number of days a resale certificate is good for from 90 days to 120 days. In today’s market, sellers are paying repetitive fees to update the form. Section 9 adds a disclosure on the resale certificate to tell the purchaser if there are any fees payable to the association at settlement. Section 10 adds the right for a purchaser to cancel the contract within 5 days after receiving the resale certification unless the purchaser receives it before signing the contract. Section 11 extends the number of years for a condominium that existed before DUCIOA to have a fully funded reserve because the shorter time limits have been a burden on many condominiums. Section 12 provides for this bill to take effect 30 days after its enactment.
Title
An Act To Amend Title 25 Of The Delaware Code Relating To The Delaware Uniform Common Interest Ownership Act And The Unit Property Act.
Sponsors
Roll Calls
2010-06-29 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]
2010-06-22 - House - House Third Reading (Y: 39 N: 0 NV: 0 Abs: 2) [PASS]
2010-06-22 - House - House Third Reading (Y: 39 N: 0 NV: 0 Abs: 2) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-07-12 | Signed by Governor | |
| 2010-06-29 | Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT | |
| 2010-06-24 | Reported Out of Committee (JUDICIARY) in Senate with 5 On Its Merits | |
| 2010-06-23 | Assigned to Judiciary Committee in Senate | |
| 2010-06-22 | Passed by House of Representatives. Votes: Passed 39 YES 0 NO 0 NOT VOTING 2 ABSENT 0 VACANT | |
| 2010-06-22 | Amendment HA 1 - Passed in House by Voice Vote | |
| 2010-06-22 | Amendment HA 1 - Introduced in House | |
| 2010-06-16 | Reported Out of Committee (JUDICIARY) in House with 6 On Its Merits | |
| 2010-06-15 | Introduced and Assigned to Judiciary Committee in House |
