condominiums; terminations

HB 2817 changes Arizona's rules for dissolving condominium associations. It requires 95% of voting rights from unit owners to terminate newer condos (created after September 24, 2022), up from the previous 80% threshold for older condos. The bill also mandates a 30-day board meeting where owners must present signed termination agreements before recording, and clarifies that property either sells (with specified terms) or transfers to owners as tenants in common after termination. This directly affects condo owners and associations seeking to end their community structure.