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SB 2229NORTH DAKOTASession 69State BillSigned into law

Enacted

North Dakota requires sellers to provide comprehensive disclosures for home sales involving a homeowners' association or condominium

Original title: AN ACT to create and enact a new section to chapter 47-10 of the North Dakota Century Code, relating to required disclosures before the sale of a condominium unit or a property subject to a homeowners' association or a condominium project.

Last action · March 20, 2025: Filed with Secretary Of State 03/18Sponsors: Josh Boschee and 4 others

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What This Bill Does

North Dakota requires sellers of property within a homeowners' association or to provide buyers with written disclosures, financial statements, and governance documents within ten days of executing a sales agreement or by a mutually agreed date. Buyers may void the purchase contract until the required documents are provided and for five days after receipt or until property conveyance.

Why it matters

Real estate transactions involving HOAs or condominiums now carry mandatory disclosure requirements regarding association finances, fees, and pending litigation, altering the contract cancellation rights and liability protections for both buyers and sellers.

Background

Chapter 47-10 of the North Dakota Century Code governs real property conveyance and related legal standards. context

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

sellers of condominium units or HOA properties

Sellers must compile and provide extensive written disclosures regarding association finances and governance within ten days of executing a sales agreement.

Directly affected

prospective buyers

Buyers receive detailed financial and operational records of the property's association and gain the right to void the contract if documents are delayed or incomplete.

Directly affected

homeowners' associations and condominium projects

Associations must furnish required documents to sellers within ten days of a request and may charge a pre-disclosed reasonable fee.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What specific financial documents must a seller provide to a buyer?

The seller must provide the amount of periodic s, maintenance fees, unpaid common expenses, special assessments, available reserve and capital funds, current operating and reserve budgets, and year-to-date financial statements.

What happens if the homeowners' association fails to provide the required documents in a timely manner?

The seller is not liable to the buyer for the association's delay or failure, but the purchase contract remains voidable by the buyer until the documents are provided and for five days after receipt or until conveyance, whichever occurs first.

Can an association charge a fee for providing these documents?

Yes, the homeowners' association or may charge a reasonable fee, provided it is disclosed before the final acceptance of the purchase agreement.

What else do you want to know?

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Where This Stands

Current status: Signed into law.

Procedural history

15 actions

Mar 20, 2025
Filed with Secretary Of State 03/18
Mar 18, 2025SenateEnrolled
Signed by Governor 03/18
Mar 17, 2025SenateEnrolled
Sent to Governor
Mar 17, 2025Senate
Signed by President
Mar 17, 2025House
Signed by Speaker
Mar 13, 2025Senate
Returned to Senate

Show 9 earlier actions

Mar 12, 2025HouseFloor
Second reading, passed, yeas 87 nays 4
Mar 11, 2025HouseCommittee
Reported back, do pass, place on calendar 14 0 0
Mar 10, 2025HouseCommittee
Committee Hearing 03:00
Feb 18, 2025HouseIntroduced
Introduced, first reading, referred Industry, Business and Labor Committee
Feb 4, 2025House
Received from Senate
Feb 3, 2025SenateFloor
Second reading, passed, yeas 44 nays 2
Jan 31, 2025SenateCommittee
Reported back, do pass, place on calendar 5 0 0
Jan 29, 2025SenateCommittee
Committee Hearing 09:30
Jan 17, 2025SenateIntroduced
Introduced, first reading, referred Industry and Business Committee

Version history

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