What documents does the unit owner-controlled association need to obtain during the transition?


By no means an exhaustive list, here are some particularly important documents:

  1. Operational Books and Records
    • Declaration of Trust and Master Deed
    • Bylaws and Rules and Regulations
    • Accounting of association funds and financial statements
    • Audits performed during the developer control period
    • Documents relating to any past or pending claims
    • Past and present budget information
    • Current statement of account balances and invoices from developer control
    • Association bank accounts, checking accounts, certificates of deposit, etc.
    • All association insurance policies
    • Complete roster of unit owners and their addresses, as well as mortgagees by unit
    • Any and all contracts in which the association is a contracting party.
  1. Physical Facilities Records
  • Plans showing roads and parking areas, measurements and dimensions of structures, landscaping, recreational facilities, and storm and sewer systems
  • Information on products and processes used in regular maintenance and repair of common areas
  • Written warranties of the contractors, subcontractors, suppliers, and manufacturers involved in the construction and/or maintenance of the association’s facilities.
    • Copies of any bonds or letters of credit posted with any state or local agency
  • Confirmation of compliance with the local authorities as well copies of any bonds or letters of credit posted with state or local agencies
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