Community Identity
Name and legal description of the community, HOA contact information, and governing documents referenced as exhibits for easy verification.
A clear Community Disclosure Agreement reduces post-transaction disputes by documenting known facts and warnings, supports informed consent, and helps satisfy statutory disclosure duties in many states while creating an auditable record of what was shared.
Organizations and individuals involved in property transfers or community governance commonly prepare Community Disclosure Agreements; recipients vary by transaction type.
The document is typically maintained by the seller, HOA, property manager, or closing agent and provided to buyers, tenants, lenders, and counsel during due diligence.
Name and legal description of the community, HOA contact information, and governing documents referenced as exhibits for easy verification.
Current operating budget, reserve study summary, recent assessments, outstanding special assessments, and delinquency statistics where applicable.
Material covenants, conditions and restrictions (CC&Rs), architectural guidelines, pet rules, leasing limits, and parking policies that impact owners.
Pending litigation, arbitration matters, code violations, or insurance claims that materially affect community obligations or assessments.
Known structural or environmental issues in common areas: roof condition, asbestos, mold, lead paint, drainage, or pest infestations.
Exhibits such as minutes, financial statements, reserve studies, insurance certificates, and maps supporting the disclosures.
Use secure delivery methods and file formats that preserve integrity and evidence of receipt.
Deliver disclosures early enough for buyer review; timing depends on contract terms
Allow reasonable period for questions and additional documentation
Retention typically begins on effective date or closing
If law requires filing, verify local deadlines and procedures
Correct material omissions promptly to reduce liability risk
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A seller attaches HOA financials to disclose an upcoming special assessment
A property manager lists pending common-area repairs in a tenant disclosure