AN ACT RELATING TO PROPERTY -- CONDOMINIUM LAW

HB 7411 reduces the fee condominium associations can charge for updating a resale certificate after the initial issuance, capping it at $25 (down from $125). This directly affects condo associations, which must now limit update fees to $25, and unit owners selling their properties, who face lower costs for certificate updates. The bill requires associations to provide the necessary resale certificate information within 10 days of a request, with penalties for delays. It ensures sellers pay only the reduced fee for updates, while protecting purchasers from liability for outdated information in the certificate.