CACM

By Tracy R. Neal, Esq.
Published in The Law Journal by CACM, Winter 2016

“Much ado” implies a lot of fuss over something relatively insignificant. While they may not be the most exciting aspect of association operation and management, disclosure and notice requirements are certainly not insignificant. Routinely changing disclosure requirements has become the new normal for community associations, and associations need to ensure that they keep current with mandated annual disclosure requirements.

The annual disclosure checklist for associations got a bit longer this year for condominium projects. In addition to disclosure requirements pursuant to California Civil Code §§ 5300 and 5310, Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) disclosures are now required as part of a condominium association’s Annual Budget Report. In 2015, AB 596 was signed into law, which requires that a condominium association disclose whether it has FHA certification and VA certification using specific language. These FHA and VA disclosure requirements are codified as California Civil Code §§ 5300(b)(10) and (11), respectively.

BGT Partners, Jeff Beaumont and Lisa Tashjian, have been selected to present at the California Association of Community Managers Southern California Law Seminar & Expo in Anaheim on March 17 and 18 at the Disneyland Hotel. The firm will also exhibit at the 2-day conference.