Maryland HB1132 modifies notice requirements for resale contracts in condominiums and homeowners associations.

Maryland HB1132, the Keeping Affordable Housing Affordable Act, revises notice requirements for resale contracts in condominiums and homeowners associations. It mandates that sellers provide purchasers with certain disclosures and allows purchasers to cancel contracts if they do not receive all required notices. The bill also adjusts the fees a council of unit owners or homeowners association can charge for providing disclosures and alters the time period within which a purchaser may cancel a contract. The act takes effect October 1, 2026.

Maryland HB1132 modifies notice requirements for resale contracts in condominiums and homeowners associations.

Maryland HB1132, the Keeping Affordable Housing Affordable Act, revises notice requirements for resale contracts in condominiums and homeowners associations. It mandates that sellers provide purchasers with certain disclosures and allows purchasers to cancel contracts if they do not receive all required notices. The bill also adjusts the fees a council of unit owners or homeowners association can charge for providing disclosures and alters the time period within which a purchaser may cancel a contract. The act takes effect October 1, 2026.