Can the disclosure be e-signed?

Yes. Electronic signatures are generally legally binding under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided the signer consents and the record can be retained and reproduced.

Who must sign the statement?

An authorized association officer or an authorized agent (such as the property manager) should sign. Include the signer’s printed name, title, and date to support attribution.

Is notarization required?

Not typically for a disclosure alone, but specific states or lenders may request notarized certification of certain attachments; verify with escrow or counsel for state-specific rules.

What if new information arises after delivery?

If material changes occur (new assessment, litigation), promptly provide a corrected or supplemental disclosure and document the delivery method and date.

How should I store the signed disclosure?

Keep a tamper-evident PDF/A copy with embedded audit trail, maintain backups, and retain per applicable retention rules such as IRS minima and any state-specific requirements.

How long should the association keep records?

Retain disclosure packet components for the active term plus at least three years; real estate and tax-related documents may require longer retention per IRS and state guidance.

Electronic Signature
Templates
Real estate
Strata Disclosure Statement

Strata Disclosure Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

STRATA DISCLOSURE STATEMENT

Date of Disclosure:

Property Identification

Property Address Unit / Strata Lot Number Strata Plan / Parcel / APN Number Legal Description

Parties

Seller / Current Owner — Full legal name Seller Contact Address

Phone

Email

Prospective Buyer — Full legal name Buyer Contact Address

Phone

Email

Strata Corporation / Management

Strata Corporation Name Strata Council / Manager Contact

Financial Information

Current regular strata fee: $ per .

Date next fee payment due (typical day of period) Reserve Fund / Contingency Balance (as disclosed)

Are there outstanding special levies approved but unpaid? Yes No

If yes, provide amount and description

Bylaws, Rules and Use Restrictions

Have current bylaws and rules been provided to Buyer? Yes No

Summary of rental, pet, parking, or alteration restrictions

Disclosures and Material Facts

Are there pending or threatened legal actions involving the strata corporation that may materially affect assessments? Yes No

If yes, provide brief description and parties involved

Known building defects, material deferred maintenance, or unresolved common area deficiencies? Yes No

If yes, describe nature, location, and any estimated remediation

Insurance

Does the strata corporation maintain property and liability insurance covering common property? Yes No

Insurance coverage summary (deductible, material exclusions, owner responsibilities)

Meetings and Records

Date of most recent AGM or general meeting:

Have minutes and financial statements for the past year been provided? Yes No

Additional Disclosures

Outstanding warranty claims or insurance claims affecting common property Other material information (by-law changes, pending assessments, material alterations)

Seller Certification

I, the undersigned Seller, certify under penalty of perjury that the information contained in this Strata Disclosure Statement is true and correct to the best of my knowledge. I further certify that I have disclosed all material facts known to me that a purchaser would reasonably consider important in deciding whether to purchase the strata lot. I acknowledge that the Buyer may rely on these disclosures in evaluating the purchase.

Seller's full legal name:

Buyer Acknowledgement

I, the undersigned Buyer, acknowledge receipt of this Strata Disclosure Statement and understand that the statements herein are representations by the Seller. I acknowledge my opportunity to obtain independent advice and to inspect strata records, financial statements, and engineering reports where available prior to closing. Acceptance of this disclosure does not waive the Buyer’s rights concerning undisclosed material defects or fraudulent misrepresentation.

Buyer's full legal name:

Governing law: This Strata Disclosure Statement and any dispute arising hereunder shall be governed by the substantive laws applicable to the jurisdiction in which the strata lot is located. The Seller and Buyer agree that this statement constitutes part of the transaction documents and that remedies for breach include those available at law and in equity, including specific performance where appropriate.

Entire agreement: This document constitutes the entire Strata Disclosure Statement between the parties; all prior representations, whether written or oral, concerning the subject matter are merged herewith except to the extent expressly set forth in other executed transaction documents.

Seller — Print Name:

By:

Date:

Buyer — Print Name:

By:

Date:

What the Strata Disclosure Statement Is and When It Applies

A Strata Disclosure Statement explains the governance, financial condition, restrictions, and common-area rules for a unit in a multiowner residential development (commonly called a condominium or strata scheme). In U.S. practice this document aggregates association bylaws, budget summaries, pending special assessments, reserve studies, and any active litigation affecting the association so prospective buyers and lenders can assess title risk and ongoing costs. It is often prepared by the seller, property manager, or homeowners association and delivered during the due-diligence period of a sale.

Why a Clear, Accurate Strata Disclosure Matters

A complete disclosure reduces post-closing disputes, clarifies ongoing fees and restrictions for buyers, and supports lender underwriting by documenting assessments, reserve funding, and governance. Accurate statements help transfer obligations cleanly and limit liability for sellers and associations.

Who Typically Prepares and Reviews These Statements

Different stakeholders prepare and rely on the Strata Disclosure Statement at distinct stages of a sale or refinance.

Sellers and listing agents: Collect and deliver association bylaws, budgets, and assessment histories to prospective buyers during escrow.
Homeowners associations and property managers: Maintain records, produce official association statements, and certify outstanding assessments or liens.
Buyers and lenders: Review disclosures to confirm recurring fees, special assessments, insurance coverage, and existence of litigation that could affect marketability.

Understanding each party’s role helps ensure timely delivery and reduces the chance of discoverable omissions during closing.

Core Elements to Include in a Professional Strata Disclosure

A professional disclosure bundles governance, financial, and operational facts into clearly labeled sections that buyers and lenders can verify quickly.

Property Identity

Provide the full legal unit description, association name, parcel or condominium plan number, and current mailing address for the association.

Governing Documents

Attach or summarize articles, declaration, bylaws, rules, and amendments; indicate where originals can be inspected or obtained.

Financial Summary

Include current operating budget, reserve fund balance, assessment schedules, and any pending or approved special assessments.

Insurance Coverage

List association insurance types, policy limits, deductible amounts, and whether unit owners carry separate interior coverage responsibilities.

Pending Legal Matters

Disclose active litigation, arbitration, liens, or regulatory investigations that could affect association solvency or unit marketability.

Restrictions & Rules

Summarize occupancy limits, leasing restrictions, pet rules, parking rules, and any short-term rental prohibitions that affect owner rights.

Required Data Elements and Common Short Entries

Unit Identifier: Legal unit number

Association Name: Registered association name

Assessment Amount: Monthly/quarterly fee

Reserve Balance: Most recent reserve total

Insurance Limits: Policy limit summary

Pending Actions: Litigation or special assessments

Step-by-Step: Prepare and Deliver a Strata Disclosure

Follow these steps to assemble, verify, and transmit a complete disclosure package before closing.

01

Gather documents: Collect bylaws, budget, reserve study, insurance summary, and recent meeting minutes.
02

Verify figures: Confirm reserve and assessment amounts against bank statements or board resolutions.
03

Assemble packet: Create a single PDF with a table of contents and page numbering.
04

Deliver on time: Send to buyer and lender per contract deadlines and retain delivery proof.

Customize an Online Workflow for Disclosure Delivery

Configure an eDelivery flow that automates placement of signature fields, audit logging, and recipient routing to match your closing process.

Field	Configuration
Signature Field	Assign to HOA signer, require date
Supporting Docs	Attach budget, bylaws, insurance summary
Authentication	Email link + optional SMS code
Routing	Send to buyer, lender, escrow in order

Digital Signing and eSubmission Considerations

Choose a platform that supports secure eSigning, preserves an audit trail, and meets any industry compliance requirements for record retention.

Authentication: Email + SMS or KBA for higher assurance
Audit Trail: Time-stamped events, IP, and signer attribution
File Formats: Export signed PDF/A with embedded certificate

Where to Send or File the Completed Disclosure

Routing depends on transaction stage: seller to buyer, copy to lender and escrow, and a retained copy with the association or property manager for records.

To Buyer: Deliver electronically or in paper per purchase contract.
To Lender: Provide full disclosure package for underwriting review.
To Escrow/Title: Include with closing documents to record conditions or liens.
For Association Records: Retain signed copy with meeting minutes and accounting files.

Timing Expectations and Typical Delivery Windows

Exact deadlines are contract- and state-dependent; these common timing checkpoints help parties plan for review and response.

Pre-Contract Disclosure:

Provide any voluntary disclosures before offer to avoid later rescission requests.

Due-Diligence Period:

Buyer review typically occurs during inspection/escrow contingency period.

Lender Review Window:

Submit timely to support underwriting and appraisal schedules.

Correction or Supplement:

Amend promptly if new assessments or litigation arise before closing.

Record Retention:

Retain copies per association policy and legal retention rules.

Common Preparation Errors to Avoid

Using outdated budgets or reserve numbers that are no longer accurate and create lender questions.
Failing to disclose pending special assessments or litigation that materially affect value or insurance risk.
Omitting contact details for the association or property manager, delaying buyer inquiries and approvals.
Sending unsigned or improperly dated disclosures that cause escrow to request corrected documents.

Consequences of Incomplete or Incorrect Disclosures

Contract Rescission: Buyer may cancel transaction

Damages Exposure: Seller/association liability for losses

Closing Delays: Lender or title holdbacks

Regulatory Fines: State enforcement penalties possible

Increased Insurance Cost: Undisclosed risks may raise premiums

Reputational Harm: Association credibility loss

eSignature Vendor Comparison for Delivering Strata Disclosures

Compare typical plan entry points and feature availability to choose an eSignature provider that supports secure delivery, audit trails, and required compliance features.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial, no credit card	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No envelope cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Real-World Examples of Disclosure Use

These short cases show how different organizations rely on clear disclosures to complete transactions and avoid disputes.

Optica Ventures

Brian Fitzgibbons used standardized disclosure packets to speed closings and reduce follow-up requests by buyers

streamlined packet delivery cut queue time during escrow
The clearer documentation helped underwriting proceed without repeated document requests and reduced conditional loan holds at closing.

Martin Properties

Tim Martin processed association budgets and bylaws online for multiple closings in a week

centralized digital packets simplified reviews for buyers and lenders
Having a single verified PDF with signatures and audit trail reduced title exceptions and accelerated funding timelines.

Frequently Asked Questions About Strata Disclosure Statements

Answers to common questions about validity, electronic signatures, who signs, and how long to retain disclosures for closing and post-closing needs.

Need help? Contact support

Can the disclosure be e-signed?
Yes. Electronic signatures are generally legally binding under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided the signer consents and the record can be retained and reproduced.
Who must sign the statement?
An authorized association officer or an authorized agent (such as the property manager) should sign. Include the signer’s printed name, title, and date to support attribution.
Is notarization required?
Not typically for a disclosure alone, but specific states or lenders may request notarized certification of certain attachments; verify with escrow or counsel for state-specific rules.
What if new information arises after delivery?
If material changes occur (new assessment, litigation), promptly provide a corrected or supplemental disclosure and document the delivery method and date.
How should I store the signed disclosure?
Keep a tamper-evident PDF/A copy with embedded audit trail, maintain backups, and retain per applicable retention rules such as IRS minima and any state-specific requirements.
How long should the association keep records?
Retain disclosure packet components for the active term plus at least three years; real estate and tax-related documents may require longer retention per IRS and state guidance.

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