Section 34.08.560. Common interest communities containing conversion property.

   (a) The public offering statement of a common interest community containing conversion property must contain, in addition to the information required by AS 34.08.530,
        (1) a statement by the declarant, based on a report prepared by a registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the property;
        (2) a statement by the declarant of the expected useful life of each item reported on in (1) of this subsection or a statement that representations have not been made in that regard; and
        (3) a list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing the violations.
   (b) This section applies only to property that contains a unit that may be occupied for residential use.

Notes

History

(Sec. 1 ch 95 SLA 1985)