Arizona HB2397 amends real property laws to regulate homeowners' associations, including disclosure requirements and fee limitations.

Arizona HB2397 amends several sections of the Arizona Revised Statutes to regulate homeowners' associations. It mandates that associations provide specific information to purchasers, including financial statements, pending lawsuits, and violations. The bill limits fees associations can charge for services like resale disclosure and lien estoppel, with a maximum penalty of $1,200 for violations. It also invalidates covenants imposing mandatory assessments for third-party property maintenance and restricts the use of common expense assessments for such purposes.

Arizona HB2397 amends real property laws to regulate homeowners' associations, including disclosure requirements and fee limitations.

Arizona HB2397 amends several sections of the Arizona Revised Statutes to regulate homeowners' associations. It mandates that associations provide specific information to purchasers, including financial statements, pending lawsuits, and violations. The bill limits fees associations can charge for services like resale disclosure and lien estoppel, with a maximum penalty of $1,200 for violations. It also invalidates covenants imposing mandatory assessments for third-party property maintenance and restricts the use of common expense assessments for such purposes.