Prohibits common interest communities from penalizing members who place unit into living, revocable trust fund or classifying placement as title transfer.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill prohibits common interest communities, such as homeowner associations and condominium associations, from penalizing members who place their property into a living, revocable trust fund or classify this placement as a title transfer. Currently, some association governing documents allow the association to charge fees based on these transfers. This legislation aims to protect members, particularly seniors, by preventing these financial penalties while allowing associations to cover reasonable transfer-related costs.
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Sponsors
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1 on record
Primary sponsor
Robert Singer
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