Maryland SB332 clarifies unit owner responsibility for property insurance deductibles in condominiums.

Maryland SB332 amends the law to clarify that if damage or destruction originates from a unit, the owner of that unit is responsible for the condominium's property insurance deductible up to $25,000. The bill also mandates that resale contracts by unit owners must include a notice of this responsibility and the deductible amount. Additionally, it requires the council of unit owners to inform each unit owner annually of their responsibility for the deductible and the amount. The bill takes effect October 1, 2026.

Maryland SB332 clarifies unit owner responsibility for property insurance deductibles in condominiums.

Maryland SB332 amends the law to clarify that if damage or destruction originates from a unit, the owner of that unit is responsible for the condominium's property insurance deductible up to $25,000. The bill also mandates that resale contracts by unit owners must include a notice of this responsibility and the deductible amount. Additionally, it requires the council of unit owners to inform each unit owner annually of their responsibility for the deductible and the amount. The bill takes effect October 1, 2026.