Common Ownership Communities - Online Publication of Resale Disclosures

HB 1221 requires condo, co-op, and HOA boards or property management companies in Maryland to post specific resale disclosures on their websites at no cost to residents. The bill mandates that these communities publish key details like financial fees, building condition reports (including structural and mechanical assessments), and insurance coverage information for prospective buyers. This applies to all "common ownership communities" governed under Maryland law, directly affecting community associations and property managers responsible for resale transactions. The requirement updates existing housing laws to standardize online disclosure, ensuring transparency during property sales without additional costs to buyers.